2022-09-07

Gazprom said on September 2 that its Nord Stream-1 pipeline to Europe could not be restarted as planned on Saturday due to the discovery of a new technical problem, and the Nord Stream-1 natural gas pipeline will be fully Stop gas delivery until fault is corrected.

“Beixi-1” is the main pipeline for gas transmission from Russia to Europe, with an annual gas transmission capacity of about 55 billion cubic meters, accounting for 9.63% of Europe’s consumption in 2021. The gas shortage in Europe will be further exacerbated by the suspension of gas pipelines.
At the same time, domestic industries have gradually resumed work and production, the demand that was hit in the early stage has begun to recover, and industries related to domestic demand have also begun to recover. With the decline in the prices of superimposed energy products, the chemical industry is expected to usher in the double benefits of demand recovery and cost reduction, and downstream industries, new materials and integrated enterprises will benefit.
Looking forward to the second half of the year, the chemical industry will usher in two main lines of internal and external recovery. As the current high energy prices in Europe are gradually being transmitted to chemical products, the prices of European chemical products have increased, and the gap between domestic chemical product prices and European prices has continued to widen, and the superimposed ocean freight price Falling back, China’s chemical exports to Europe will increase substantially.
As far as the tire industry is concerned, with the decline of sea freight, the improvement of downstream demand, and the stable price of raw materials, the export volume of domestic leading tire enterprises and rubber additives enterprises may increase significantly.
(The article comes from poly glue)