IRAN

Iran has a backlog of 67 partially-completed petrochemicals projects totaling a massive 45.8mn tons/year in capacity. Even if $40bn can be found to clear the backlog, finding the 3bn cfd of ‘spare’ gas to fuel this capacity may be an even taller order.

Iran’s state-controlled National Petrochemical Company (NPC) reckons that $40bn will need to be spent to complete 67 petrochemicals projects. The backlog comprises a mixture of crackers and linked polymers plants, an...