According to the National Petrochemical Company, the agreement was signed Sunday on the sidelines of the specialized “Energy Cycle” exhibition by Hassan Abbaszadeh, managing director of the National Petrochemical Company, and Azim Etemadi, managing director of the Thermal Power Plants Holding Company.

Under the memorandum, both sides committed to bilateral cooperation to enable petrochemical companies to invest in projects focused on optimizing fuel consumption, improving operational performance, enhancing energy efficiency and achieving tangible fuel savings at power plants.

The agreement stipulates that fuel savings generated by these projects will be managed through gas operator companies, with results issued to investors in the form of energy savings certificates. The initiative is intended to reduce fuel intensity, improve energy efficiency and strengthen value creation in the petrochemical industry.