Wednesday, June 29, 2022

Russian Gas Cuts Threaten World’s Largest Chemicals Hub

Russian Gas Cuts Threaten World’s Largest Chemicals Hub
  • Chemical sector’s reliance on natural gas makes it particularly vulnerable to further shortfalls
  • Historic Gas Prices Could Stay High for a While. 
  • Here’s Why.
"...That’s largely because oil companies are no longer incentivized to drill more as oil prices rise. 
...Today, dwindling Russian gas supplies are proving a threat to the company’s vast manufacturing hub here—the
world’s largest integrated chemical complex
spanning some 200 plants. 
Earlier this month, Russia started throttling back its supply of gas to Germany and other European countries. 
In response, company executives are doing what was unthinkable just a few months ago: considering how to potentially shut down the complex if gas supplies fall further..."

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