BASF agrees 15-year gas supply deal with China's ENN [Reuters]
EEN ENERGY HLDGS UNSP/ADR (XNGSY)
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Source: Reuters
buy natural gas from Chinese gas company ENN Energy Holdings under a 15-year supply contract. ENN will supply the fuel to BASF's integrated chemicals complex in Zhanjiang in Guangdong province, BASF said in a brief statement posted on its WeChat platform, without specifying the volume of the deal. Under the agreement, ENN will invest and build a gas pipeline to supply the BASF plant. "Natural gas is a key fuel and feedstock for both the construction and operation stage of the Zhanjiang base," Marko Murtonen, general manager of the Guangdong venture was cited as saying. The 10-billion-euro ($10.8 billion) chemical complex, BASF's third-largest globally once complete, is due to be fully operational by 2030. ($1 = 0.9228 euros) Get U.S. personal finance tips and insight straight to your inbox with the Reuters On the Money newsletter. Sign up here. Reporting by Chen Aizhu Editing by Mark Potter Our Standards: The Thomson Reuters Trust Principles. , opens new tab
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