Ukrainian urea producer Ostchem Holdings received a boost this week from Gazprom when the Russian company announced it would be cutting the cost of gas to Ostchem from $395 per thousand cubic meters ($11.50/mmBtu) to $260 per thousand cubic meters ($7.55/mmBtu).
Ostchem had some news of its own, announcing plans at IFA’s Kiev meeting that it plans to increase urea production capacity from 2 million mt/y to 2.5 million mt/y.