0522 GMT August 20, 2019
According to Press TV, President Hassan Rouhani traveled to Iran's energy hub in the Persian Gulf last week to open Marjan Methanol's 1.65 million metric ton per day (mt/y) unit along with two other petrochemical facilities.
The methanol unit commenced operations in mid-August and is currently operating at around 50-60 percent of capacity, Platts quoted sources at the company as saying.
The shipments come as the US is trying to stop Iran's petrochemical, steel and copper exports, and to disrupt its ports and shipping services.
The US has special interest in trying to curb Iran's methanol exports. Washington is due to more than triple its capacities from 2015 to 7.5 million tons per year by end of 2018, shifting from importer to exporter, with Europe and Asia within its sights.
Iran is a major methanol producer. According to digital media company GlobalData, the country has the highest planned methanol capacity additions globally.
It is expected to add 30 million metric tons per year to its capacity from 2018 to 2022, accounting for 54 percent of the total global planned methanol capacity additions.
Two other methanol plants, Bushehr and Kaveh, are in final phase of construction and will be launched before March 20.