Addressing a specialized panel on the second day of the 6th Iranian Petroleum and Energy Club Congress and Exhibition (IPEC 2021), Behzad Mohammadi said methanol is the main product of the petrochemical industry, which currently has an annual production capacity of nearly 12 million tons in Iran and 80% of this capacity is produced.

He said 700,000 tons of the item is consumed domestically and the rest is exported, generating the country $2 billion in revenue per year.

The official added that Iran’s annual methanol production capacity was planned to reach nearly 23 million tons per year by 2025, adding the natural gas used as feedstock for production of methanol is 80 to 90 dollars per tons which becomes $250/ton when converted into methanol.