TEHRAN – Iran’s National Petrochemical Company (NPC) is planning on completing the petrochemical value chain in Assaluyeh petrochemical zone in southwestern Bushehr province, Shana reported on Wednesday, quoting an official with NPC.

“Development of mid-stream and downstream projects in Assaluyeh has for long been considered as a strategy for NPC,” Ali Mohammad Bossaqzadeh, director of projects at NPC, told NIPNA.

According to the official, production of the country’s petrochemical products including methanol is planned to increase by 2021.

“Completion of various phases of South Pars gas field had added to feedstock supply of petrochemical plants operating in the region and that will lead to a raise in the output,” he said.

In early December 2018, President Hassan Rouhani officially inaugurated three major petrochemical projects in Assaluyeh petrochemical zone.

As reported, these projects will increase Iran’s annual capacity of petrochemical production to 65.5 million tons from the current 62 million tons.

The port city of Assaluyeh is home to a number of petrochemical complexes which receive gas and gas condensate feedstock from the giant South Pars gas field, which Iran shares with Qatar in the Persian Gulf.

The huge offshore field is estimated to contain a significant amount of natural gas, accounting for about eight percent of the world’s reserves, and approximately 18 billion barrels of condensate.

EF/MA