Iranian state petchems firm NPC has signed an MoU with France’s Total to build an ethane cracker, the second preliminary post-sanctions petchems deal following last month’s between NPC and Danish process technology firm Haldor Topsoe.

A Total spokesman tells MEES the company has signed up to “study the possibility of building a world-class steam cracker on the Iranian coast, with ethane as the primary feedstock.” The MoU is a frame agreement and “does not...