Iranian Oil Minister Bijan Zanganeh reveals the country’s target of petrochemical production capacity to be 100 million tpa by the end of this current fiscal year or March 2021.
Zanganeh mentioned several main plans of the oil ministry this year, which includes the continued development of West Karoon fields, operation of the second petrochemical industry leap projects, completion of South Pars offshore sector and implementation of phase 11 operations, implementation of crude oil transfer pipeline from Goreh to Jask, and the completion of rural gas supply projects.
He expected the country’s revenues from petrochemicals to reach USD25 billion this fiscal year.
The minister in his speech to local radio also gushed about Iran’s gas issues.
He said that gas condensate is planned to be refined and turned into products in Persian Gulf Star and Siraf refineries and not be placed directly on the export track. Regarding the country’s gas exports to Turkey, he said that after the gas pipeline exploded in Turkey early this year, it has not been repaired as Turkey did not welcome Iran’s initiative to repair it.
The country is currently exporting 1 million cu mpd of gas to Armenia and Iraq, with small amounts being shipped to Azerbaijan and Nakhichevan. Zanganeh said that Iran has no problem supplying the gas to Laodicea ad Mare if needed, but so far there is no plan.
