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Grupa Kapitałowa Grupa Azoty
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On Thursday, September 29, 2022 there was a chat with Marek Wadowski, Vice President of the Management Board of Grupa Azoty S.A.
Grupa Azoty’s second-quarter 2022 results were strongly impacted by the turmoil caused by Russia’s invasion of Ukraine, which adversely affected the availability and prices of feedstocks, pushing up prices of final products across all business segments. As a result of lower exports, the volumes of fertilizer supplied by Grupa Azoty to the domestic market were significantly larger compared with the same period last year.
Despite temporary production cuts at three of the Grupa Azoty Group’s companies, the Group continues to provide supplies of CO2 to its existing customers. The reduction in fertilizer production was planned so as to ensure the availability of sensitive products, including liquid CO2, dry ice and ammonia water, which is necessary for the operation of the commercial power industry.
Due to record high prices for natural gas, the main production feedstock used by Grupa Azoty Zakłady Azotowe Kędzierzyn S.A., on August 23rd 2022 the Company’s Management Board decided to scale down the operation of the Fertilizer Production Unit to the minimum capacity of 43% as of August 24th 2022.
Due to record prices for natural gas, the main production feedstock used by Grupa Azoty S.A., on August 22nd 2022 the Company decided that as of August 23rd 2022 it will temporarily shut down its nitrogen fertilizer, caprolactam and polyamide 6 production units. As a consequence of Russia’s aggression against Ukraine, since February 24th 2022 natural gas prices on the European exchanges have been soaring to extraordinary, historically high levels. Over the past six months, gas prices surged from EUR 72/MWh on February 22nd 2022 to EUR 276/MWh on August 22nd 2022.
Due to record prices for gas, the main production feedstock of Grupa Azoty Puławy, the Puławy-based company of the Grupa Azoty Group has decided to temporarily scale down production at further units. As a consequence of Russia’s aggression against Ukraine, since February 24th 2022 natural gas prices on the European exchanges have been soaring to extraordinary, historically high levels. Gas prices over the past six months have nearly quadrupled, having surged from EUR 72/MWh on February 22nd 2022 to EUR 276/MWh on August 22nd 2022.