Norway's Yara Reduces Ammonia Production Due to Rising Natural-Gas Prices
September 17 2021 - 5:25AM
Dow Jones News
By Giulia Petroni
Yara International ASA on Friday said that it is curtailing
ammonia production at some of its plants due to soaring natural-gas
prices.
The Norwegian fertilizer producer said that it will cut around
40% of its European ammonia production capacity by next week as
record high prices are hurting margins.
The company said it will continue to monitor the situation in
order to keep supplying customers, but will curb production where
necessary.
Europe's energy crunch is proving particularly difficult for the
fertilizer industry, which uses large volumes of natural gas to
produce hydrogen in order to make ammonia for fertilizers.
Earlier this week, U.S. maker of agricultural fertilizers CF
Industries Holdings Inc. halted operations at its manufacturing
facilities in the U.K., giving no estimation of when production
will resume.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
September 17, 2021 05:10 ET (09:10 GMT)
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