BASF: European Plants Could Further Cut Natural Gas Use This Winter If Prices Stay High

BASF, the chemical giant, said natural gas consumption at its European plants could decline further this winter if gas prices remain elevated. Matthias Dorn, BASF's global head of procurement, said during the Bloomberg New Energy Finance summit in London that "industry will have to react," with companies having various options to curb demand in the coming months. He noted prices could ease slightly due to weather factors, but additional supply risks could push them into triple-digit territory.