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MarketScreener Homepage  >  Equities  >  Xetra  >  BASF SE    BAS   DE000BASF111

BASF SE

(BAS)
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BASF : Gazprom and BASF promote technology cooperation

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11/01/2019 | 11:57am EST

*Leading-edge technologies are serving to improve operational efficiency of Gazprom.

Sochi hosted an expanded 5th conference on promoting the relationship in the area of gas processing held by the Coordinating Committee for Strategic Cooperation between Gazprom and BASF.

The conference included a discussion of possible cooperation in technological innovation, digitalization of business processes, and localization of BASF chemical production in Russia.

To that end, Gazprom and BASF agreed to devise a comprehensive solution for separation of sulfur from natural gas. It is planned to optimize the performance and to improve the eco-efficiency of the Astrakhan Gas Processing Plant (GPP) by deploying state-of-the-art technologies. Special consideration will also be given to a possible application of highly-selective and energy-efficient technologies of BASF to boost the productivity and operational efficiency of amine gas treatment units at the Orenburg GPP.

The use of BASF synthetic compressor oils at Gazprom's facilities is another promising area of cooperation. Featuring a low deposit buildup and an extended lifetime, they can additionally contribute to improving the reliability of equipment and cost reduction.

Background

BASF SE is a leader in the global chemical industry. The company's portfolio includes six business segments: chemicals, synthetics, industrial solutions, surfactants and related technologies, nutrition and care, and agricultural solutions.

In 1999, Gazprom and BASF entered into the Agreement of Strategic Cooperation. A Joint Coordinating Committee including a Joint Working Group for interaction in gas chemical projects was set up by the companies. The conference on cooperation in the area of gas processing is held once every two years, starting in 2009.

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(C) 2019 M2 COMMUNICATIONS, source M2 PressWIRE

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P/E ratio 2020 17,5x
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