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CF Industries Holdings, Inc. Announces Agreements Enabling Billingham Complex to Operate through at Least January 2022
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Rhea-AI Summary
CF Industries Holdings, Inc. (NYSE: CF) announced that its Billingham Complex in the UK will operate through January 2022 due to new CO2 pricing and offtake agreements with industrial gas customers. The complex produces 750 tonnes of CO2 daily as a byproduct of ammonia production, helping to alleviate supply concerns. Meanwhile, the Ince Complex in Chester remains offline without a resumption date. The company aims to support sustainable UK ammonia and fertilizer production while pursuing decarbonization strategies across its operations.
Positive
Billingham Complex continues operations through January 2022.
Agreements reached address immediate CO2 supply concerns in the UK.
Production capacity of 750 tonnes of CO2 per day enhances company’s market position.
Negative
Ince Complex remains offline without an estimated recovery date.
DEERFIELD, Ill.--(BUSINESS WIRE)--
CF Industries Holdings, Inc. (NYSE: CF), a leading global manufacturer of hydrogen and nitrogen products, today announced that its Billingham Complex in the United Kingdom will continue to operate through at least January 2022 after its UK subsidiary reached carbon dioxide (CO2) pricing and offtake agreements with its industrial gas customers in the country.
The agreements between the UK subsidiary and its industrial gas customers run through the end of January 2022. During this period, it is expected that the UK government and industrial gas customers will develop robust alternative sources of CO2 as part of a long-term solution for meeting demand in the country. The Billingham Complex is capable of producing 750 tonnes of CO2 per day for commercial use as a byproduct of the ammonia production process.
“We are pleased to have reached a commercial solution that enables the Billingham Complex to continue to operate through January, alleviating near-term CO2 supply concerns in the UK,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “We want to thank The Honorable Kwasi Kwarteng, Secretary of State for Business, Energy and Industrial Strategy, his staff and our industrial gas customers for the speed and spirit of cooperation that have marked our discussions over the past three weeks. We look forward to working with them in the future as they develop a longer-term solution to CO2 supply and to support sustainable and competitive UK ammonia and fertilizer production.”
CF Industries’ Ince Complex in Chester, UK, will remain offline. The Company does not have an estimate for when production will resume at the facility.
About CF Industries Holdings, Inc.
At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our nine manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. CF Industries routinely posts investor announcements and additional information on the company’s website at www.cfindustries.com and encourages those interested in the company to check there frequently.
