3rd Methanol Project

Listed under phases 1 and 2 of the NPC's Strategic Development Program, the 3rd Methanol Project will be built in a 15 hectare area at the Petrochemical Special Economic Zone (PETZONE) on the northern coast of the Persian Gulf where several other NPC projects are already under construction.

Fan-Avaran Petrochemical Company, an NPC subsidiary, will implement and operate the project.

The project's capacity was initially designed to be 660 000-t/y. However, the capacity was later increased to 1 million-t/y of grade AA methanol, which is raw material for a wide range of chemical products including Methyl tertiary butyl ether (MTBE), formaldehyde and acetic acid. Close to 75% of the plant's output will be exported while the rest will be used as feedstock by some of the NPC's facilities for the production of MTBE and acetic acid. The project will also provide feed for the production of solvents by the local downstream industries.

The contract for the project's license, basic and detailed engineering and supply of equipment has been awarded to Italy's Snamprogetti and Iran's Sazeh. The project will use Topsoe technology. The Italian BCI bank finances the project while SACE is covering the insurance for the project's equipment.
The project feedstock includes sweet natural gas and CO2. The National Iranian Gas Company will supply the natural gas feedstock while the required CO2 will be provided by the NPC's subsidiaries Razi and Marun petrochemical complexes.