(PRESS RELEASE) OSLO, 25-Aug-2022 — /EuropaWire/ — Yara International ASA, a global firm specializing in agricultural products and environmental protection agents and a leading global ammonia player, has announced the decision to further reduce the company’s total European ammonia capacity utilization to 35 percent due to record high gas prices in Europe. As a result, Yara will now have curtailed an annual capacity equivalent of 3.1 million tonnes ammonia and 4.0 million tonnes finished products (1.8 million tonnes urea, 1.9 million tonnes nitrates and 0.3 million tonnes NPK) across its production system in Europe.
Yara will where possible use its global sourcing and production system to optimize operations and meet customer demand, including continued nitrate production using imported ammonia when feasible. Yara will continue to monitor the situation and adapt to market conditions going forward.
Yara grows knowledge to responsibly feed the world and protect the planet. Supporting our vision of a world without hunger and a planet respected, we pursue a strategy of sustainable value growth, promoting climate-friendly crop nutrition and zero-emission energy solutions. Yara’s ambition is focused on growing a nature positive food future that creates value for our customers, shareholders and society at large and delivers a more sustainable food value chain.
To achieve our ambition, we have taken the lead in developing digital farming tools for precision farming and work closely with partners throughout the food value chain to improve the efficiency and sustainability of food production. Through our focus on clean ammonia production, we aim to enable the hydrogen economy, driving a green transition of shipping, fertilizer production and other energy intensive industries.
Founded in 1905 to solve the emerging famine in Europe, Yara has established a unique position as the industry’s only global crop nutrition company. We operate an integrated business model with around 17,000 employees and operations in over 60 countries, with a proven track record of strong returns. In 2021, Yara reported revenues of USD 16.6 billion.
SOURCE: Yara International ASA