BASF, ENN Energy Signed Long Term Natural Gas Supply Agreement

SEATTLE (Oil Monster): Leading chemicals company BASF announced that it has entered into a 15-year contract agreement with Chinese ENN Energy to purchase natural gas for its Zhanjiang Verbund site. The latest contract marks an important development in the clean energy partnership between the two companies.

Accordingly, ENN Energy will make investments to construct supporting natural gas gate stations and pipelines needed to ensure a stable natural gas supply to BASF's Zhanjiang Verbund site. The collaboration is also expected to boost the clean energy supply capabilities of Donghai Island.

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Marko Murtonen, Senior Vice President, New Verbund Site noted that the agreement is a crucial milestone for the company to secure one of the essential energies required for its Zhanjiang Verbund site. Natural gas plays a significant role in the energy and raw material balance for the site in both its construction phase and operation phase, he added.

Lu Xuesong, Assistant to the President, ENN Energy noted that the company is committed to its partnership with BASF, which it hopes will help both parties to achieve mutual benefits and joint growth in their journey towards dual-carbon goals.

The Zhanjiang Verbund site is BASF’s third-largest Verbund site, after Ludwigshafen, Germany, and Antwerp, Belgium.