14 September 2009 15:03 [Source: ICIS news]
BUCHAREST (ICIS news)--Romanian chemical producers - in particular the country’s already-struggling fertilizer firms – are reeling from the latest natural gas price increases, company representatives said on Monday.
Local energy price regulator ANRE decided to increase the transportation price of gas by 9% on average from 1 September.
Producers said the hike would seriously affect fertilizer plants, where natural gas makes up 75% of the total finished product cost.
"Romanian companies are now facing a real crisis, as most of them have huge stocks of fertilizers and there is almost no demand on local market," said Ovidiu Popescu, vice-president of Romanian Chemical Union (FSLCP).
Representatives of the major Romanian chemical companies, such as Viromet, Turnu, Azomures and Doljchim, all said that the gas price hike would affect their sales figures.
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