BASF on September 27 said that it had curtailed ammonia output at its Antwerp complex in Belgium and Ludwigshafen site in Germany due to soaring natural gas prices. The German chemical giant said high gas prices have made the economics of ammonia production in Europe “extremely challenging.” The company said it will adjust its ammonia production according to gas price movements.
BASF joined other major ammonia producers to announce production curtailments due to current economic fundamentals in the European market. Norway’s Yara was the first to announce such a move on September 17. Last week Spain’s Fertiberia, Ukraine’s OPZ, and Austria’s Borealis also said they reduced ammonia production due to high gas prices.
