on ENGIE (EPA:ENGI)
BASF and ENGIE Sign Long-Term Biomethane Agreement in Europe
BASF and ENGIE have entered into a 7-year Biomethane Purchase Agreement (BPA). ENGIE will supply BASF with 2.7 to 2.9 terawatt hours of biomethane over the duration of the contract.
The biomethane will be utilized at BASF’s Ludwigshafen and Antwerp sites. It serves as a sustainable substitute for fossil raw materials in their manufacturing processes, contributing to BASF's sustainability goals by lowering its carbon footprint. The Biomass Balance certification scheme will allocate the biomethane to the end product.
This agreement also allows BASF to expand its product offerings with lower Product Carbon Footprints (PCF), benefiting industries such as automotive, detergents, textiles, and woodworking.
Matthias Dohrn from BASF highlighted the importance of the partnership for transitioning towards a circular economy. Edouard Neviaski from ENGIE noted the deal as a significant step toward their goal of selling 30 terawatt hours of biomethane per year by 2030.
Biomethane, a renewable gas produced through the fermentation of organic waste, significantly reduces greenhouse gas emissions.
R. E.
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