BASF: If gas prices remain high, European factories can further reduce natural gas consumption this winter.

The chemical giant BASF stated that if natural gas prices remain high, the natural gas consumption of European factories may further decline this winter. Matthias Dohrn, BASF’s Global Head of Procurement, said during the Bloomberg New Energy Finance summit in London: “The industry will have to react.” He noted that over the coming months, there are various options for businesses to curb demand. He commented that prices might ease slightly due to weather factors, but additional supply risks could push them into triple-digit territory.