ThyssenKrupp may stop production due to shortage of gas supply
3 Aug 2022 16:54 reported by Alvin Shi
Many European steel mills rely on gas for their production and operations, but the lack of gas supply from Russia has led the German steelmaker, Thyssenkrupp, to prepare to interrupt or limit gas supplies. The company still operates mainly on gas, so it may also stop production as they can’t completely fix the problem of the gas shortage.
Due to the pipeline maintenance work on the “Nord Stream 1”, gas supply from Russia to Germany has been reduced. Also, many companies worry that the “Nord Stream 1” pipeline will be abandoned. In addition, the Russian gas monopoly, Gazprom, declared force majeure on gas supplies to its European customers in July.
At the same time, not only the steel industry but other industries in Germany are also facing a crisis of gas shortages. It was understood that automakers BMW and Benz, major steel users, are planning to reduce their natural gas consumption and are looking for alternative energy sources such as green electricity or oil.
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