Equinor Secures Long-term Gas Supply Deal with BASF

Deal News | Jul 18, 2025 | Equinor ASA

Equinor Secures Long-term Gas Supply Deal with BASF

BASF and Equinor have announced a strategic partnership, culminating in a ten-year agreement for Equinor to supply up to 23 terawatt hours of natural gas annually to BASF. This collaboration is slated to commence on October 1, 2025, securing substantial energy provisions for BASF and enhancing its efforts for carbon footprint reduction. Anders Opedal, CEO of Equinor, emphasized the dual benefits of energy security and reduced emissions attributed to Norway's gas. This partnership aligns with BASF's strategy to diversify its raw material sources while advancing sustainability targets. BASF's use of natural gas extends to energy supply and a crucial feedstock for chemical production, pivotal for various consumer goods. The agreement underscores the critical role of natural gas in European industries.

Sectors

  • Energy
  • Chemicals

Geography

  • Europe – The natural gas supply agreement is intended for BASF's operations across Europe, and Equinor supplies gas from Norway.
  • Norway – Equinor is a Norwegian company supplying the natural gas, which comes with low emissions from production and transport originating in Norway.

Industry

  • Energy – The agreement involves the supply and delivery of natural gas, a key component of the energy industry.
  • Chemicals – BASF, a company involved in chemical production, will use the natural gas as a feedstock for manufacturing processes.

Financials

  • 23 terawatt hours annually – The volume of natural gas that Equinor will supply to BASF each year under the agreement.

Participants

NameRoleTypeDescription
Equinor ASASupplierCompanyA Norwegian energy company supplying natural gas to BASF under a strategic partnership.
BASF SEBuyerCompanyA German chemical company purchasing natural gas for its European operations.
Anders OpedalPresident and Chief Executive OfficerPersonCEO of Equinor, commenting on the agreement's benefits for energy security and emission reductions.
Dirk ElvermannChief Financial Officer and Chief Digital OfficerPersonCFO and CDO of BASF, highlighting the partnership's alignment with BASF's sustainability targets.