Top executives of oil and gas companies from 18 countries are taking part in an international conference on petrochemical industry in Tehran to explore Iran's emerging role in global markets, said a report.
The International Iran Petrochemical Forum (IPF) opened on Saturday (April 22) with the participation of industry experts, traders, petrochemical producers, refiners, shipping and logistics companies as well as technology solution providers and engineering companies.
France's oil and gas giant Total and Germany's gas and engineering company Linde are leading more than 70 companies which are seeking business in Iran.
The foreign participants are from the UK, Italy, Denmark, Belgium, Switzerland, Singapore, Japan, Turkey, India, Romania, Bahrain and Lebanon.
Their participation in the two-day conference has raised the prospects of new deals for investment in Iran's massive petrochemical sector which aims to draw $55 billion in the next 10 years.
The forum follows the 2nd Argus Iran LPG and Petrochemicals Conference held in Tehran on Tuesday and Wednesday, during which Tehran signed its first LPG contract with India, according to source.
The conference sought to explore Iran's growing importance in the global LPG and petrochemicals markets and develop new relationships to navigate the evolving landscape, its organisers noted on the website.