Crisis averted, for now.
This paper looks at Germany’s unique position as the continent’s largest gas consumer and its emerging role as an import and transportation hub—both north–south and west–east. German industrial gas demand is also significantly higher as a proportion of total demand, at 35 per cent pre-crisis compared to an average 20 per cent in the European Union (EU).
This paper surveys the mixed impacts that the gas price rally had on German industries, particularly in chemicals. It explains the different strategies seen among the corporates in this sector. It focuses special attention on BASF as a case study—the largest chemical company in Europe, and one that was heavily invested in Russian joint ventures as well as its international portfolio in the USA and Asia.