BASF SE one of the world’s largest chemicals companies, said it would reduce production of fertilizer ingredient ammonia, as it seeks to curb its natural gas use after Russia throttled flows to Europe.
Moscow began Wednesday reducing supplies via the Nord Stream pipeline, the largest Russian gas link to Europe, to around 20% of capacity. The reductions complicate the continent’s efforts to store enough gas ahead of winter, raising the specter for industry of costly rationing. European Union members this week agreed to sweeping cuts to natural-gas consumption, calling for countries to voluntarily reduce their gas use by 15% from August.