Rarely can the focus on carbon dioxide (CO2) been more intense, whether it is government leaders grappling with Net Zero and emission targets, or food and beverage producers and packaging manufacturers wrestling with supply shortages.
In Europe, a perfect storm of dynamics has created renewed tightness in the market.
Soaring gas prices, squeezed margins in ammonia markets, temporary plant closures, maintenance downtime, depleted storage levels and a relative lack of urgency in CO2 recovery projects have left the market on the precipice – all fuelled by ‘macro’ factors such as rising inflation and geopolitical tensions following Russia’s invasion of Ukraine.
In the UK, shortages have been in effect since September 2022 and look only set to deepen.
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