BASF postpones decision on natural gas-based propylene investment in Freeport, Texas
Ludwigshafen, Germany and Freeport, Texas – June 6, 2016 – Considering the current volatility of raw material prices and the prevailing economic environment, BASF has postponed its final investment decision regarding the construction of a methane-to-propylene complex at its Freeport, Texas, site.
“On-purpose production of propylene based on favorable U.S. shale gas is interesting for BASF. We will regularly review the development of raw material prices and the relevant market conditions to determine the right point in time to commence such a major investment,” said Wayne T. Smith, member of the Board of Executive Directors of BASF SE.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 112,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of more than €70 billion in 2015. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information at www.basf.com.