XNGSY - BASF Lights Up China's Mega-Project with ENN Energy Gas Deal | Benzinga
German chemicals giant BASF SE (OTC:BASFY) inked a deal with ENN Energy Holdings Limited (OTC:XNGSY) to purchase natural gas for its Zhanjiang Verbund site in China.
As per the contract, ENN Energy will invest in the construction of the needed supporting natural gas gate stations and pipelines to aid a stable natural gas supply to BASF’s Zhanjiang Verbund site.
The Zhanjiang Verbund site will be BASF’s largest investment to date with around €10 billion upon completion.
The deal will also further boost ...