Nik-Nafas said the only way for sustained growth and development of Iran’s petrochemical industry is information sharing in sales, operations, investment, mergers and management.
He said according to the American Chemical Society, the average growth rate of world’s chemical and petrochemical industries in 2015 stood at 3.6 percent, which is higher than that in the previous years. This shows severe growth of the capacity in different parts of the world as average growth worldwide rose to 3.6 percent in 2015 from 2.7 percent in 2013.
He said the share of ethylene production in the Middle East is on the rise and by 2019, 22 percent of the world ethylene will be produced by the Middle East companies.
Last year too, the highest number of new projects in the Middle East were operational in Saudi Arabia, Oman and the UAE, he added.
On the US share in the world petrochemical industry, Nik-Nafas said the US access to gas feedstock from the gas shale sources led to 330 percent growth of natural gas and LNG refining industries in 2012 to 2014. The feedstock provoked 100 billion dollar investment in the US petrochemical industries for establishment of new methanol, ethylene, and derivatives, urea and ammonia units.
He said export of the US ethane gas is an option on table and Indian Reliance, SABIC Eropa and Borealis are to set up necessary infrastructures for ethane gas imports from the US.
Today, 70 percent of the US ethylene is obtained out of ethane gas, while the figure was only 45 percent six years ago and this is a threat to the countries rich in gas sources in Persian Gulf, he added.
He then referred to the main advantages of Iranian petrochemical industry and said the production relies on abundant feedstock put at its disposal at competitive prices.