BASF and Equinor have entered into a long-term strategic agreement for the supply of up to 2 bcm/year of natural gas over a ten-year period. The contract will cover a significant portion of BASF’s natural gas requirements in Europe. Deliveries are set to begin on 1 October 2025, with the gas sourced from Norway.
Natural gas plays a vital role in European industry, particularly in the production of chemicals and fertilizers. BASF relies on natural gas both as an energy source and as a feedstock for basic chemical production. This long-term partnership supports BASF’s strategy to diversify its energy and raw material supply. The agreement is based on market terms.
Norway is a key supplier of natural gas, with proven reserves totalling 1,449 bcm as of the end of 2023. The country ranks as the world’s fourth-largest natural gas exporter.