CF Industries signs feedstock deal with bp for ammonia production
2/15/2023 9:30:31 AM
Fertilizer maker CF Industries Holdings Inc said on Tuesday it had signed a deal with European oil major BP for 2.2 billion cubic feet (Bft3) of natural gas in 2023 for ammonia production.
Financial details of the deal, which is expected to help bring down the CF's methane emissions from natural gas by around 90%, were not disclosed.
Natural gas is used as a feedstock to produce ammonia. Fertilizer makers benefited from higher prices last year after sanctions on Russia and Belarus, the second and third largest fertilizer producers, created a supply shortage across the globe.
Comments