In 2021, the German chemical company BASF consumed as much gas at its Ludwigshafen site alone as the whole of Switzerland. What the gas crisis means for the company and why it is still adjusting the annual target upwards.
At first glance it doesn’t match. On the one hand, BASF, the world’s largest chemical company based in Ludwigshafen, is the largest industrial gas consumer in Germany and is therefore particularly affected by the rising gas prices. On the other hand, the group presented good results for the first half of the year on Wednesday and revised the expectations for the entire current year upwards.