Iran will add more than 24 million metric tons to its methanol output in less than 5 years, which will transform the country into a methanol kingpin in global markets. However, the excessive output of the product will make construction of new plants for production of the item unnecessary.
Iran plans to bring its annual petrochemical output to 180 million metric tons through 67 major petrochemical projects which are waiting for finances for their completion.
Once all phases of the supergiant South Pars gas field come on-stream, Iran will see a 4.5mt rise in its ethane output which will be fed to petrochemical plants for processing, he added.
The petrochemical development of the regions will double Iran's revenues from the sector by the end of the 6th five-year development plan (2016-2021), he added.
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