Home / Knowledge / News / Textiles / 'Petrochem projects in Iran's South Pars making progress'
'Petrochem projects in Iran's South Pars making progress'
23
May '14
Petrochemical development projects under the Phase 2 of the massive Iranian offshore South Pars gas fields are progressing as scheduled, said Managing director of Iran's National Petrochemical Company (NPC) Abbas Sheri Moqqadm, reports Shana News Agency.

According to the NPC official, the development projects in the South Pars gas fields are progressing more tangibly than before and dynamism has returned in Iranian petrochemical industry.

Mr. Sheri Moqqadm said financing of the projects, especially by China, is proving effective in the world’s largest gas fields shared by Iran and Qatar.

South Pars could become one of the most important production hub for petrochemical products in Iran, and the Government also supports the implementation of development projects in the petrochemical sector, he added.

The world’s biggest natural gas condensate, South Pars is divided between Iran and Qatar. According to the International Energy Agency (IEA), the field has around 50 billion barrels or 7.9 billion cubic meters of natural gas and about 1,800 trillion cubic feet or 51 trillion cubic meters of in-situ natural gas.

Meanwhile, petrochemical sites located in the southwestern Iranian city of Mahshahr are expected to produce around 3.25 million tons of petrochemicals, owing to the completion of its methanol production cycle, informed an official from the Mahshahr Special Petrochemical Economic Zone.

According to the official, the production cycle of methanol is expected to be completed very soon forming a consortium of petrochemical plants that will be active in the zone.

Last week, NPC informed that more than 40 million tons of petrochemical products were manufactured in the country during last calendar year, which ended on March 20, 2014.

According to the NPC, during last calendar year, Iran exported petrochemical products worth $10.723 billion, registering a rise of 1 percent, compared to the $10.165 billion worth of petrochemical products exported during the previous calendar year, which ended on March 20, 2013.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 24th Jan 2017

Textile industry demands relaxation of laws from Budget

The upcoming Union Budget 2017-18 should focus on relaxing certain...

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search