Iran plans to develop new petrochemical hub: Official

Iran plans to turn the Sea of Oman’s costal region into the country’s petrochemical hub, says an official.

Deputy Managing Director of Iran’s National Petrochemical Company (NPC) Mohammad Hassan Peyvandi said on Friday that the coastal region has enormous potential for the establishment of petrochemical complexes.

“Due to their closeness to consumer markets, the Sea of Oman’s coasts have a very good potential for establishment of petrochemical complexes,” he said.

The official also pointed to the Iranian Oil Ministry’s policy of developing new petrochemical hubs to avoid excessive reliance on Iran’s current petrochemical powerhouse, Asalouyeh, adding, “It is planned to establish petrochemical hubs in areas such as Jask, Chabahar and Iranshahr, which are located across or near the Sea of Oman.”

The southeastern town of Iranshahr has the highest potential to turn into Iran’s petrochemical hub due to its closeness to the Sea of Oman and the Iran-Pakistan gas pipeline, Peyvandi stated.

Compared with other petrochemical complexes such as Asalouyeh and Mahshahr, Iranshahr is 1,000 kilometers closer to destination markets such as India and China, the official added.

The official noted that the water needed by the planned petrochemical complex in Iranshahr will be provided from the Sea of Oman and the required natural gas will be transferred from Iran-Pakistan pipeline.

Iran plans to increase its petrochemical exports to USD 12 billion in the current Iranian year (started March 21).

The Islamic Republic has significantly expanded the range and volume of its petrochemical production over the past few years, and the NPC has become one of the largest producers and exporters of petrochemicals in the Middle East.