BASF did not wait for Gazprom: chemical concern contracts Norwegian gas for a decade

One of the largest chemical concerns in the world, which previously actively cooperated with Gazprom, contracts gas for a long time from Norway and the USA.

BASF and the Norwegian state-owned company Equinor have signed a long-term strategic agreement on the annual supply of about 2 billion cubic meters over ten years.

"The contract provides a significant share of BASF's natural gas needs in Europe. Deliveries will begin on October 1, 2025," both companies report.

BASF noted that the chemical concern uses natural gas both as an energy source and as a raw material for the production of basic chemicals.

"This agreement supports the company's strategy to diversify its energy and raw materials portfolio. Gas is sold on market terms," BASF said.

Even earlier, in 2023, BASF contracted annual deliveries of 0.8 million tons of LNG from the USA (about 1 billion cubic meters) until 2043.

Before that, BASF bought gas in Russia was not an ordinary customer of Gazprom. They had a joint trader Wingas and common gas pipeline projects. In 2022, deliveries stopped, at the same time, rising costs for more expensive fuel forced the chemical concern to optimize production, including reductions. BASF also withdrew from the oil and gas business.

As EADaily reported, Russian pipeline gas supplies to Germany stopped at the end of August 2022 due to sanctions. And on September 26, sabotage occurred on the Nord Streams. On July 18, the European Union imposed sanctions on operations on Nord Streams so that the gas pipelines would not resume operation. Now Russian gas enters Germany only in the form of LNG. SEFE, the former Gazprom Germania, which the German government nationalized from Gazprom, continues to receive it under a long-term contract.