Gas supply to 12 petrochemical plants in Iran cut off, official says
Amid Iran's winter energy crisis, natural gas supplies to 12 petrochemical plants have been suspended due to high residential demand, an Iranian official announced Saturday.
Amid Iran's winter energy crisis, natural gas supplies to 12 petrochemical plants have been suspended due to high residential demand, an Iranian official announced Saturday.
"If residential consumption drops by just 10%, more gas can be directed to industrial units," said Ahmad Mahdavi Abhari, Secretary General of the Petrochemical Industry Employers Association. He made the remarks during a signing event between the National Petrochemical Company and two petrochemical facilities.
Mahdavi also criticized the Ministry of Oil for delays in finalizing investment contracts for petrochemical companies in the upstream gas sector. He urged the government to expedite these agreements to support the industry during this critical time.
Meanwhile, Oil Minister Mohsen Paknejad said on Wednesday that Iran needs $45 billion in investment to tackle its persistent winter energy shortages and worsening air pollution.
The funds are vital for boosting gas production to meet the targets outlined in Iran's long-term development plan, which informs the country's budgets and industrial policies.
"According to the Seventh Development Plan, gas production must reach 1.4 billion cubic meters per day," Paknejad said. "To achieve this goal, $45 billion of investment is required."
He added that most of the funding must be directed toward developing gas fields and upgrading related infrastructure. However, he did not mention Iran's difficulty in securing advanced Western technology for boosting gas extraction at its main fields in the Persian Gulf.
Successive Iranian governments have struggled to cope with rising consumption, particularly during the colder months when power plants often rely on polluting fuels, further exacerbating air quality issues in urban areas.
