Carbon dioxide (CO2) markets continue to face challenges. Whether new or familiar, these almost always result in the same outcome: shortages in supply. Inherent exposures in the product’s sourcing have been exacerbated by frequent periods of volatility in recent years, and depleted storage levels as a result.
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 all left the CO2 market on the precipice of shortage. In the UK, shortages have been in effect since September 2022 and appear only set to deepen.
At the same time, both challenges and opportunities exist in decarbonisation, capture and utilisation of CO2 across sectors, and in Europe there is growing emphasis on a circular economy approach to industrial projects.
Join gasworld in March 2023 for its Europe CO2 Summit 2023 to better understand the CO2 supply chain and how the region – as well as the industry as a whole – can navigate the perfect storm in supply, geopolitics and decarbonisation in 2023 and beyond.
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