Hassan Abbaszadeh, deputy petroleum minister and
head of the National Petrochemical Company (NPC), said petrochemical holdings
had begun investing in upstream gas projects to ensure supply. “What once took
several years is now being finalized in about six months, thanks to the oil
ministry’s efforts,” he told reporters on the sidelines of the IranPlast exhibition.
He added that Iran had already tapped 21 million
cubic meters of flared gas this year to feed petrochemical plants, achieved
through investments by large holding companies. Talks are under way with
private investors to capture additional flare gas from South Pars phases.
Abbaszadeh said Iran exported 30 million tonnes
of petrochemicals worth $13 billion last year despite sanctions, noting that
private companies had developed multiple tactics to sustain overseas sales.
“Even if the snapback mechanism is activated, its impact on petrochemicals will
be limited,” he said.
The NPC chief said petrochemical companies also
contribute to the national grid, with Fajr and Damavand complexes supplying
surplus electricity during peak demand. He highlighted renewable projects,
including Kaveh Petrochemical’s new solar farms and plans to build 600 MW of
wind capacity in Sistan-Baluchestan.
Iran’s petrochemical exports totaled $5.5 billion
in the first five months of this year, Abbaszadeh said. He also announced that
phase two of the Mahshahr Petrochemical Special Economic Zone, which includes
two major refineries and downstream projects, had received environmental
permits and was set to begin construction. “This development will create a
large new job market from next year,” he added.