Iran Targets Petrochemical Exports to Europe, Africa, LatAm

Sahafzadeh told Shana that restoring the pre-sanctions’ production level will be time-consuming but is not a far away goal. “Now, new markets in Europe and Africa are the targets.”

He said after Joint Comprehensive Plan of Action (JCPOA), a new chapter has opened in export of Iranian petrochemical products.

He added that Latin America is another outlook for the exports and conditions in that respect are getting better.

Deputy Minister of Petroleum for Petrochemical Affairs Marzieh Shahdaie says Iran’s current petrochemical production capacity stands at 63 million tons a year and the capacity should reach 130 million tons by 2020 and 180 million tons by 2025.

The National Iranian Petrochemical Company (NPC) expects Iranian petrochemical exports will reach as much as 65 million tons a year by 2020.

After the JCPOA, Iran has always been seeking to find new destination for the exports and diversify the markets, thus far gaining success to some extent.

Earlier, Director of the Production Control Department at the NPC Ali-Mohammad Bosaqzadeh says European countries have after elimination of sanctions welcomed Iranian petrochemical products and export of the products to the Latin American and African states is on the rise.

Europe had prior to sanctions had a share of about 30 percent in Iranian petrochemical products and Iran has held lengthy consultations to regain the lost share.

The point worth noting is growing demand in Europe for Iranian petrochemical products.

Bosaqzadeh said exports to Latin American and African states are increasing but the point worth taking into consideration is that any exports should take place after addressing domestic need.

In the first half (March 20-September 21) of the current Iranian year of 1395 (March 20, 2016-March 20, 2017), Iranian petrochemical products were exported to many destinations and in the second half of this year, the exports will continue growing.