Iran’s Oil Ministry has said that the construction of three petrochemical projects is nearing completion, with the projects to come on stream in the coming months, reported Trade Arabia.
The projects include the phase 2 of Kavian Petrochemical plant, Takht-e Jamshid Petrochemical complex and the development project of Lorestan Petrochemical’s linear, low and high density polyethylene plant, which have been fully completed.
The three plants will begin providing feedstock in the current Iranian fiscal year.
In related news, Iran expects to bring five LNG projects online in the next three years, including a liquefaction facility which is 60% complete, head of the National Iranian Gas Company (NIGC) Hamidreza Araqi was quoted by Press TV as saying.
“Among the five LNG plants under construction, the so-called Iran LNG has 60% physical progress and we hope to complete it in the next one and half years after finding an investor and enter the LNG market thereafter,” he said.
Araqi also revealed that several European companies have proposed to participate in the projects but negotiations have yet to be finalized.
Previously Minister of Petroleum Bijan Zangeneh had said a French company and the Belgians were interested in floating production of liquefied natural gas off the Kharg Island. Germany’s industrial gases maker Linde has also indicated its readiness to join Iran’s LNG projects.