European chemical producers are calling for simpler laws that would expand the region's energy mix, including shale gas development, to push energy prices down. The chemical sector is losing its competitive edge because of high energy costs, with some manufacturers considering relocating production outside the region. "Further unilateral increases in EU energy costs would make many basic chemicals made in the EU uncompetitive, with knock-on effects down the whole value chain," said BASF Chairman Kurt Bock, who also heads European chemical industry group Cefic.

Related Summaries