Official Stresses Importance of Developing Petchem Industry by Boosting Propylene Output

Official Stresses Importance of Developing Petchem Industry by Boosting Propylene Output
(Friday, February 5, 2021) 14:06

TEHRAN (NIPNA) – A board member of the Oil Industry Pension Fund stressed the need to produce more propylene in order to complete the value chain of the sector, emphasizing the need for various plans for the future of the petrochemical industry.

Mohammad Hassan Peyvandi, addressing the 6th Iran Petroleum and Energy Congress (IPEC), stressed the extensive developments in the global energy field, underlining the importance of propylene production in Iran.

He said: "Methanol is produced from natural gas and then converting it into propylene, which is mostly consumed domestically; it is hoped that production of propylene will increase due to the vast gas reserves in the country and the presence of abundant methanol.”

Peyvandi stated that creating the necessary infrastructure to convert methanol to propylene provides new opportunities to achieve the goals of the petrochemical industry and ensure development of mid- and downstream industries, employment and attracting investment.

He continued: "Different countries in the world will continue to need gas by 2050, especially in the industrial sector, but it should be borne in mind that the development of renewable energies is expanding rapidly and estimates show that in the years 2040 to 2050, the trend of using new and renewable energies will face a leap.”

"Despite having vast oil and gas reserves, we must be active in the development of renewable energies," said Peyvandi. "In some parts of Iran, we have sun during 70 to 90 percent of a day, and we must maximize investments in this regard."

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