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BASF cuts some fertilizer capacity at European plants

 Last Update: 2023-03-27
 Source: Internet
 Author: User

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German chemical giant BASF has become the latest European company to cut some fertiliser capacity due to "extremely challenging" economic conditions brought on by high gas prices
.

BASF's chemical plants in the Belgian ports of Antwerp and Ludwigshafen and in Germany have successively cut ammonia production
.

"Due to the recent sharp rise in natural gas prices in Europe, the economic difficulty of operating an ammonia plant in the region is very high," BASF said in a statement
.
"As a result, BASF has reduced ammonia production at the Antwerp and Ludwigshafen chemical plants
.
"

"BASF will continuously monitor developments in natural gas prices and adjust its ammonia production accordingly," BASF said
.

BASF is the latest European company to scale back fertilizer ammonia production as soaring natural gas prices have led to negative growth in the fertilizer industry's profit margins
.

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