BASF Inks 15-Year Gas Deal with ENN

German chemical giant BASF announced on Friday a 15-year agreement with Chinese gas company ENN Energy Holdings to supply natural gas to its integrated chemicals complex in Zhanjiang, Guangdong province. This deal is crucial for powering BASF's largest investment project to date, which has an estimated price tag of €10 billion ($10.8 billion).

As part of the agreement, ENN Energy will invest in constructing the necessary infrastructure, including a gas pipeline, to deliver a stable supply of natural gas to the BASF plant. This collaboration will contribute to the expansion of clean energy capabilities within the Zhanjiang area's Donghai Island.

"Natural gas is a key fuel and feedstock for both the construction and operation stage of the Zhanjiang base," commented Marko Murtonen, General Manager of the Guangdong venture.

BASF's emphasis on sustainable production practices is evident in this partnership. The Zhanjiang Verbund complex aims to become a global model for sustainable chemical manufacturing and is scheduled to be fully operational by 2030.