Global record high natural gas prices are pushing some energy-intensive companies to curtail production in a trend that is adding to disruptions to global supply chains in some sectors such as food and could result in higher costs being passed on to their customers.
Yara’s chief executive, Svein Tore Holsether, told Reuters in an interview Monday that the company was bringing ammonia to Europe from production facilities elsewhere, including the United States and Australia. "Instead of using European gas, we are essentially using gas from other parts of the world to make that product and bring it into Europe," he said.Some industries are calling on governments to intervene on their behalf.
CF Industries said in a statement it is immediately restarting ammonia production at its Billingham plant following the agreement.Other energy-intensive sectors such as steel and cement are also feeling the pinch. In China, several steel, ceramic and glass makers have reduced production to avoid losses, according to Li Ruipeng, a local supplier of liquefied natural gas in the northern province of Hebei. And, China’s southwestern province of Yunnan this month imposed limits on production of some heavy industries, including producers of fertilisers, cement, chemicals, and aluminium smelters due to energy shortages, a move that analysts said could reduce exports.
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