TEHRAN – National Petrochemical Company (NPC) is planning on inaugurating 23 petrochemical projects in Assaluyeh petrochemical zone in southwestern Bushehr province, Shana reported, quoting an official with NPC.

“The country’s petrochemical production capacity will increase significantly with the inauguration of 23 projects in Phases 1 and 2 of Assaluyeh [petrochemical zone], and the new projects will also diversify our petrochemical products greatly,” Director of NPC's Projects Ali-Mohammad Bosaqzadeh said.

Emphasizing the need to accelerate the completion of development projects by utilizing the existing capacities in the country, the official said: "Currently, various projects are being developed throughout the country and having 23 major projects under development, Pars Special Economic Energy Zone (PSEEZ) has a special place in this regard.”

According to Bossaqzadeh, the mentioned projects, 21 of which are in phase 1 of Assaluyeh zone, have reported to have between five to 99.7 percent of physical progress.

He further noted that with the mentioned projects going operational a great part of the country’s petrochemical value chain will be supplied by the Assaluyeh petrochemical zone.

In May 2019, Bossaqzadeh had announced that NPC is planning on completing the petrochemical value chain in Assaluyeh petrochemical zone.

“Development of midstream and downstream projects in Assaluyeh has for long been considered as a strategy for NPC,” he said.

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 rise in the output,” he said.

The port city of Assaluyeh is home to a number of petrochemical complexes that 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