He further noted that coordination among petrochemical industry actors, including holdings and major players, is a primary focus of the company, stating a suitable convergence has emerged among petrochemical holdings and their subsidiary companies, with monthly meetings held with various industry holdings to promote better coordination and governance within the petrochemical sector.

New Markets

Stressing the importance of markets given that approximately 70% of petrochemical products are exported, Abbaszadeh emphasized the necessity of developing downstream industries. He explained that negotiations have begun to acquire technical knowledge and financial resources through the National Petrochemical Company and the private sector.

Abbaszadeh referred to the initiation of future planning studies for the petrochemical industry within the National Petrochemical Company, conducted in collaboration with an academic expert to review the development trends of this industry globally. He stressed, “We must align Iran’s petrochemical industry with global development trends because this has implications for both the Iranian petrochemical product market and shared markets.”

He stated that Iran’s petrochemical production capacity is expected to double in the next ten years, emphasizing the need to anticipate suitable global markets from now on, noting that this is only achievable by paying attention to other competitors and major players worldwide.

Sustainable Feedstock Supply

The CEO of the National Petrochemical Company indicated that currently, 21% of the petrochemical industry’s capacity is unused, stating that the main reason for not utilizing this capacity created in previous years is a lack of feedstock.

Abbaszadeh mentioned the establishment of a working group to ensure a sustainable feedstock supply for the petrochemical industry in NPC, announcing that this year, two sources, NGL 3200, which started operations last year, and NGL 3100, which will begin operations this year, will be utilized with a greater capacity to partially meet the industry’s feedstock shortages.

Abbaszadeh announced a study of 12 gas consumption optimization projects in other sectors in the first 100 days of the 14th government, stating that these projects, prepared in collaboration with the National Iranian Gas Company, are in the final stages. Petrochemical companies, which are natural gas consumers, can participate in implementing these projects and acquire the additional saved natural gas as feedstock in the petrochemical sector.