German chemicals group BASF has signed a long-term contract to import US liquefied natural gas, the latest in a string of deals inked by German companies after the country was forced to abandon Russian gas.
Under a deal announced on Tuesday, BASF will purchase an annual 800,000 tonnes of LNG from Cheniere Energy, the US’s biggest producer of the super-chilled fuel, from mid-2026 to 2043.
“By establishing our own dedicated LNG supply chain with Cheniere, we are diversifying our energy and raw materials portfolio at a time of critical changes in the European gas market,” said BASF chief financial officer Dirk Elvermann in a statement.
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