Daily Times

The first export consignment of mono ethylene glycol (MEG) produced by Shazand Petrochemical Co has been exported from Iran’s Arak to Istanbul by train. It was a 100-ton-consignment, produced in Shazand Petrochemical company, one of the largest petrochemical complexes, exported through Arak railway to Turkey.

Methanol and MEG (mono ethylene glycol) are the major products exported from Iran and accounted for 77 percent and 11 percent respectively of the total volume exported in 2019. Ethylene glycol (IUPAC name: ethane-1,2-diol) is an organic compound with the formula (CH2OH)2.

It is mainly used for two purposes, as a raw material in the manufacture of polyester fibers and for antifreeze formulations. It is an odorless, colorless, sweet-tasting, viscous liquid. Petrochemical products are among the main sources of foreign revenues for Iran, accordingly, the country is reportedly planning to launch eight petrochemical projects by the end of the current Iranian calendar year ( March 20, 2021).

As reported, 30 percent of the country’s petrochemical output is consumed domestically, adding to the number of operational 70 percent of the products exported to international markets. According to the statistics, Islamic Republic of Iran’s trade value with Eurasian Economic Union (EAEU) hit $1.4 billion in the first eight months of the current Iranian calendar year (from March 21 to November 22). Accordingly, Iran’s trade value with EAEU member states reached $1.4 billion from March 21 to Nov. 22 without crude oil included, showing a 11 percent decline as compared to the last year’s corresponding period. About 1.8 million tons of non-oil goods, valued at $639 million were exported to EAEU member states in the first eight months of the current year, registering a 20 and 6 percent decline in terms of volume and value respectively. Export of Iranian non-oil products to two countries of Russia and Belarus recorded a considerable hike in this period both in terms of volume and value.