BAKU, Azerbaijan, July 18. Equinor and BASF have signed a long-term strategic agreement for the supply of natural gas, securing up to 23 terawatt hours annually—equivalent to around 2 billion cubic meters—for BASF’s operations in Europe, Trend reports.
The ten-year deal will begin on October 1, 2025.
The agreement is aimed at ensuring energy security and stable raw material supply for BASF, which uses natural gas both as a fuel and as feedstock in chemical production. Equinor’s gas, sourced from Norway, is among the lowest in emissions globally when it comes to production and transport.
“Natural gas not only provides energy security to Europe but also critical feedstock to European industries,” said Equinor CEO Anders Opedal. “I’m pleased our gas supports BASF’s efforts to reduce its carbon footprint.”
BASF emphasized the importance of reliable and sustainable supply. “This agreement not only comes with competitive terms but also supports our sustainability targets,” said Dirk Elvermann, CFO and Chief Digital Officer at BASF.
The deal builds on an existing partnership between the two companies and is part of BASF’s broader strategy to diversify its energy sources while supporting climate goals.