BAKU, Azerbaijan, November 4. The volume of gas needed for Iran's petrochemical plants will be a daily requirement of 168 million cubic meters between 2024 and 2029, said Hussein Abbaszadeh, Executive Director of Iran’s National Petrochemical Company, Trend reports.
He said this in an interview with Iranian media in the Mahshahr Petrochemical Special Economic Zone located in Khuzestan Province.
He noted that over the next 5 years, the production of petrochemical products in Iran is expected to increase by 8 percent annually, which will consequently lead to higher gas consumption.
Abbaszadeh announced the establishment of 61 petrochemical facilities within this period, with a $24 billion investment and a total production capacity of 35 million tons annually.
Currently, 20 of the 72 active petrochemical facilities in Iran are located in the Mahshahr Petrochemical Special Economic Zone, which accounts for 25.8 million tons of the country's annual petrochemical production potential of 96.3 million tons.
Over the next decade, an additional 20 petrochemical facilities with an annual production capacity of 8 million tons are expected to become operational in this zone.
The company official also stated that they anticipate Iran's petrochemical plants to require a daily gas supply of 205 million cubic meters over the next ten years.
To note, over the next ten years, Iran's goal is to increase the production of petrochemical products to 186 million tons.