RoydadNaft –  The head of Iran’s National Petrochemical Company (NPC) stated that the company has set a goal of increasing petrochemical production capacity by over 130 million tons under the Seventh National Development Plan.

Hassan Abbaszadeh said the overall policies of program are based on completing the industry’s value chain, which will be achieved by a quantifiable increase in the production capacity.

This is the first time that completing value chain has been focused in the country’s national development plan, and a quantitative goal has been set for it, he noted.

Abbaszadeh emphasized that development policies and plans should consider the production of final products and move towards value chain development. He said balanced development in the industry should be given priority, and to this end, completing the four main chains of, propylene, ethylene, and aromatics in the Seventh National Development Plan has been targeted, and annual plans of the NPC are also aligned with achieving these goals.

The NPC head said the most significant achievement of the petrochemical industry has been its growth in line with preventing raw material export.

“The petrochemical industry is the embodiment of the value chain completion in the oil industry,” he stressed.

The official considered sustainable feedstock supply as a pillar of the Seventh National Development Plan for the petrochemical industry. He added that efforts are being made to provide stock simultaneously with capacity development.

To this end, various paths for feedstock supply are under consideration, and one of the most important programs to make up for stock shortages in the short term is the collection of flare gases, which, in addition to increasing feedstock, also has a significant positive impact on environment.

He stated that the main target areas for collecting flare gases are West Karoun, East Karoun, Dehloran, and Ilam, where most of the country’s flares are located. He further mentioned that multiple projects are underway in the Isfahan region as well to utilize associated gases.