The beginning of the maintenance of the Russian Nord Stream-1 gas transmission pipeline has made petrochemical companies in the Green Continent face a wave of concern about the reduction and interruption of gas supply.
According to the ICSI news site:
the threat of a lack of gas supply in Europe has caused the concern of the petrochemical industry in the Green Continent, so that this condition can reduce production.
The supply of Russian gas by the Nord Stream-1 pipeline to Germany will be stopped from July 11 to 21 for maintenance operations, and this event can have a negative effect on the production of the German petrochemical industry.
On June 23, Germany activated the second phase of a contingency plan aimed at increasing the level of natural gas reserves after Russian gas deliveries through the Nord Stream-1 pipeline were cut.
There is a concern that even after the completion of the maintenance and repair period of the Nord Stream-1 gas pipeline, the reduction or interruption of gas will continue
Since Austria also ordered the industries to find alternative energy for gas, the petrochemical industry in this country is also affected by these conditions.
A buyer of polyethylene terephthalate (PET) product expressed his concern about the gas supply situation in Germany and endangering the security of supply. This concern about the petrochemical industry will continue until the end of this year because the increase in the future prices of natural gas in January is possible. is to continue
He added: I am worried about the gas supply situation in Germany, in such a situation we should see higher prices.
A key producer of polyethylene terephthalate (PET) in Germany, scheduled for a maintenance period in October, may decide to extend the shutdown period to avoid higher costs in the long run.
If Lithuanian producers, who are 100% dependent on Russian gas, cannot find alternative suppliers for energy, the market for polyethylene terephthalate may face further disruptions.
Another buyer of polyethylene terephthalate product said: The gas bill for us will increase sharply because the price of gas is 10 to 20 times higher than before.
One of the buyers of Butadiene (BD) product considered the price conditions of natural gas to be very unreasonable and asked what would happen if the gas supply does not return to normal after the production interruptions related to maintenance are over, he said: if If the gas supply does not return to normal and the prices rise, the production of petrochemical products will also be affected and this situation will have adverse effects on the production sector.