Many European steel mills rely on gas for their production and operations, but the lack of gas supplies from Russia has forced German steelmaker Thyssenkrupp to prepare to cut off or limit gas supplies. The company is still operating primarily on gas, so it may also stop production as they cannot fully address the gas shortage.
In connection with the repair work on the Nord Stream 1 gas pipeline, gas supplies from Russia to Germany have been reduced. Also, many companies fear that the Nord Stream 1 gas pipeline will be abandoned. In addition, in July, the Russian gas monopoly Gazprom announced a force majeure event with regard to gas supplies to its European consumers.
At the same time, not only the steel industry, but other industries in Germany are also facing a gas shortage crisis. It was understood that automakers BMW and Benz, major consumers of steel, were planning to reduce their natural gas consumption and were looking for alternative energy sources such as clean electricity or oil.
ThyssenKrupp may stop steel production due to gas shortage
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Azovpromstal® 5 August 2022 г. 08:17 |
