Air Products' European operations hit as Middle East conflict lifts energy costs

Reuters

03/18

By Sumit Saha

March 18 (Reuters) - Industrial gases maker Air Products' APD.N operations in Europe are being impacted by rising energy costs, as supply disruptions due to the Middle East conflict send oil and liquefied natural gas prices soaring.

However, overall impact has been limited, driven by broad increases in energy costs rather than any disruptions to its own production, despite some plant closures and challenges in moving personnel in and out of the Middle East, CEO Eduardo Menezes said at a JPMorgan conference on Wednesday.

Menezes also said Air Products has limited production exposure in Qatar, where LNG output has been halted amid the conflict.

(Reporting by Sumit Saha in Bengaluru)

((SumitArunima.Kumar@thomsonreuters.com;))

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However, overall impact has been limited, driven by broad increases in energy costs rather than any disruptions to its own production, despite some plant closures and challenges in moving personnel in and out of the Middle East, CEO Eduardo Menezes said at a JPMorgan conference on Wednesday. Menezes also said Air Products has limited production exposure in Qatar, where LNG output has been halted amid the conflict. 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