- Equinor will supply up to 23 terawatt hours of natural gas annually to BASF.
- The agreement spans ten years, starting October 1, 2025.
- Natural gas is crucial for chemical and fertilizer production.
Agreement Details
Equinor will supply BASF with up to 23 terawatt hours of natural gas annually, equivalent to around 2 billion cubic meters. This agreement is set for a ten-year period, commencing on October 1, 2025. The contract ensures a significant portion of BASF's natural gas requirements in Europe is met.
Strategic Importance
Natural gas is a vital feedstock for European industries, particularly in the production of chemicals and fertilizers. BASF utilizes natural gas both as an energy source and as a raw material for producing basic chemicals. This partnership aligns with BASF's strategy to diversify its energy and raw materials portfolio.
Market and Environmental Considerations
The gas will be sold on market terms, supporting BASF's efforts to reduce its carbon footprint. Gas from Norway, supplied by Equinor, is noted for having the lowest emissions from production and transportation, contributing to sustainability goals.
