BASF may invest €1B to build gas complex in U.S.


BASF (BASFY -1.2%) says it is considering investing more than €1B ($1.39B) to build a gas complex on the U.S. Gulf coast to take advantage of low-cost shale gas; if completed, it would be the single-largest plant investment in the company's history.

The methane-to-propylene complex would supply BASF's North American operations, converting natural gas into propylene, a building block for the chemicals industry.

The plans were revealed as BASF reported a 2.1% rise in Q1 profit to €1.48B, reflecting improved margins in specialty chemicals and agriculture, while sales fell 1.1% to €19.5B due to delays in oil and gas production.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs