Iran Sees Ukraine as Bridge to European Petchem Market

Iran Sees Ukraine as Bridge to European Petchem Market
(Monday, August 14, 2017) 18:02

TEHRAN (NIPNA) – Managing Director of National Petrochemical Company (NPC) Marziyeh Shahdaei says Kiev can facilitate export of petrochemicals from Iran to Europe given Ukraine's grasp of the market's specificities.

Shahdaei had a meeting with Ukraine's Ambassador to Tehran Sergei Buldiliak on Monday to discuss energy cooperation and relations between Tehran and Kiev.

The official said introduction of investment opportunities in Iran for Ukrainian financiers and formation of joint ventures for funding energy projects in Iran were among the meeting's highlights.

She further said that Ukraine's grasp of the European market and its needs can make the country the bridge of Iran's petrochemical exports to Europe.

The official, who also serves as deputy petroleum minister for petrochemical affairs, added that Iranian petrochemical products can be swapped with Ukraine for export to European markets or Ukraine can facilitate export of petrochemical products from Iran to Europe.

"Formation of an export hub for Iran's petrochemical products to Europe in Ukraine, developing technical savvy between the two countries and considering Ukraine's refinery products for consumption as petrochemical feedstock for formation of petrochemical facilities in the country were other topics discussed during the meeting," she said.

Marziyeh Shahdae further added that according to the Ukrainian ambassador to Tehran, petrochemical trade between Iran and Ukraine has increased dramatically since implementation of the Joint Comprehensive Plan of Action (JCPOA).

Iran's export of petrochemicals to Ukraine has grown by 70% year-on-year in the first 6 months of 2017.

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