Wednesday, August 3, 2022

Covestro: Winter is Coming

Very similar to The Polymerist's comments, this concern about steam generation at Covestro's German plants: 
German materials giant Covestro warned Tuesday that the rationing of gas could see some of its sites shut down, as its CEO stressed the importance of reducing the company’s reliance on fossil fuels.

In a statement outlining the company’s performance in the second quarter of 2022, Covestro said it was undertaking “various measures” to lower, over the short term, its gas requirements in Germany, where the firm’s facilities represent roughly 25% of its worldwide production capacity.

These measures include using oil-based steam generators. “If gas supplies are rationed in the further course of the year, this could result in partial load operation or a complete shutdown of individual Covestro production facilities, depending on the level of the cutback,” the company said.

“Due to the close links between the chemical industry and downstream sectors, a further deterioration of the situation is likely to result in the collapse of entire supply and production chains,” it added.

I cannot imagine the level of disruption in the US if natural gas was suddenly cut off (or reduced!) in the United States. 

1 comment:

  1. Interesting, I work for Evonik and the company line is "everything is fine", like the dog in the burning house meme.


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