Lurgi to build methanol plant in Iran
Lurgi AG has signed a contract to build a Methanol plant in Iran. The customer is Zagros Petrochemical Co., which belongs to Iran's National Petrochemical Company (NPC). The order is worth a total of almost EUR160 million. Lurgi has already received an advance payment of approximately EUR30 million and has started on the engineering work. The plant will use Lurgi's MegaMethanol® technology to produce around 5,000 tonnes of methanol per day from natural gas as from 2006. This new project represents a continuation of Lurgi's encouraging performance in the methanol market. At the beginning of May this year, Lurgi signed a contract worth US$ 90 million to build a methanol plant in China.
"As the market and technology leader we are benefiting from the growing demand for methanol and are continuing to enhance our outstanding competitive position. Once the new plant comes on stream, 70 percent of global methanol production will be based on Lurgi's technology", stressed Klaus Moll, the mg executive director responsible for industrial plant engineering. Because oil resources are limited, methanol - which can be produced cheaply from natural gas using Lurgi's MegaMethanol® technology - is becoming increasingly important as an alternative energy source and an additive in derivative petrochemical products such as propylene. Global production of methanol is currently around 30 million tonnes per year and is growing rapidly.
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