CEFIC has called on the European Commission and EU Member States to “immediately design and implement closely coordinated pan-European measures to limit the impact of energy prices vis-à-vis competing economies, increase energy supply and incentivise reductions in energy consumption”, both for the upcoming winter and beyond. “Skyrocketing gas and electricity prices vis-à-vis competing economies, the potential risk of gas supply shortages and mandates of electricity consumption reduction are putting hundreds of chemical plants at risk throughout Europe,” the association said.
The European Chemical Industry Council (CEFIC) has reported that EU27 chemical production fell by 1.9% from 2019 to 2020. It expects 3% and 22% growth in 2021 and 2022 respectively. However, “longer-term economic outlook remains highly uncertain due to the ongoing COVID-19 pandemic and its continued economic impacts”.