As reported by the Department of public Relations, Organization for Investment, Economic and Technical Assistance of Iran, at the same time of implementation of targeting subsidies plan and reforming the price of different energy carriers, the formula for setting the selling price of input to the petrochemical industries was notified by the first deputy of the president.
Based on the report, due to the agreement of special representatives of the president in petroleum affairs, the new formula for the selling price of crude oil, condensate gas, natural gas, etan, metan and enriched gas, used in petrochemical industry, was set and notified in line with the Targeting Subsidies Law.
Therefore, having the approval of the special representatives of the president, it was agreed that for implementation of Targeting Subsidies Law, the selling price of natural gas to petrochemical plants, in the first year of implementing the plan, be set at 29 percent that of the export price of gas.
According to this decision, the selling price of gas to petrochemical plants will have an annual four percent growth, in a manner that in a time span of 10 years, the selling price of gas will reach 65 percent that of exporting gas basket.
In setting the formula for selling natural gas to petrochemical plants, as well as the export gas price, the average price of Japan’s importing crude oil has also been seen as a major measurement.
The report also says that the Ministry of Petroleum is required to set the price of Etan as 145.11 per ton, for the first year. Some special formulas have also been adopted for determining the sweet and sour gas, to develop and produce LNG in the country.