BASF cuts its ammonia production due to growth of natural gas prices
The German concern BASF has decided to stop part of its ammonia production at its plant in Ludwigshafen (Germany). The reason was the rise in prices for natural gas and energy. The company closes one of the two ammonia plants in Ludwigshafen. By the end of 2025, 700 people will be unemployed. In total, the company plans to cut 2.6 thousand jobs at enterprises around the world. This will allow BASF to save about 500 million euros. Half of these savings will go to Germany.
Previously, company representatives refused to comment on the information that appeared in the press, calling it “market rumors.” However, on Friday, February 24, these reports were confirmed. Today, BASF operates two ammonia plants in the city of Palatinate. It should be noted that last year there was already a reduction in production due to an increase in gas prices.