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        PRA

BASF shelves investment decision on Texas gas plant

Borealis

German chemicals company BASF postpones its final investment decision regarding the construction of a methane-to-propylene complex at its Freeport, Texas, site, considering the current volatility of raw material prices and the prevailing economic environment. Wayne T. Smith, member of the Board of Executive Directors of BASF SE, commented: “On-purpose production of propylene based on favourable US 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.”

(PRA)


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