W. Will on energy prices
From The global shortage of fertilizer is a huge problem, says CF Industries Holdings CEO · · CNBCTelevision
“The high cost of natural gas in Europe compared to North America gives us a significant edge in fertilizer production, with natural gas prices in Europe being about 35 to 38 dollars per BTU, versus around five to six dollars in North America.”
On , W. Will, President, Chief Executive Officer & Director at CF Industries Holdings, Inc, spoke about energy prices during The global shortage of fertilizer is a huge problem, says CF Industries Holdings CEO on CNBCTelevision.
About W. Will
In a March 2022 interview, W. Will, CEO and president of CF Industries Holdings, described the global fertilizer shortage as a "huge problem" and a "catastrophic" situation. He attributed the shortage to unprecedented demand, a falloff in supply, and the war in Ukraine, which disrupted exports from Russia and Ukraine. Will noted that Russia and Ukraine have historically exported about 30 percent of global wheat trade and 20 percent of global corn trade, and he stated that Ukraine is not expected to plant a normal crop the following year due to damage to infrastructure and displacement of people. Will stated that CF Industries has pushed out some maintenance activities and added logistics capabilities, such as vessels and rail cars, but said there are "very few incremental tons" of nitrogen production that can be added. He highlighted that North American producers have a cost advantage because natural gas prices in Europe are significantly higher than in North America. Will said the company is in close contact with customers in Latin America and is beginning to export on a humanitarian basis to get nutrients to that region. He called for a peaceful ceasefire in Ukraine to allow farmers to return to the fields.