FT: BASF keen to explore German shale potential

BASF said it wants to research the potential for shale gas production in Germany and warned politicians not to endanger the competitiveness of Europe’s industry by adding to its already high energy costs.

The world’s biggest chemicals maker by sales is closely following the impact of shale gas discoveries in the US which have boosted US rivals such as DuPont and Dow Chemical via lower electricity costs and feedstock prices.

BASF would like to explore the possibility for “fracking” in Germany but must overcome widespread environmental concerns about the use of this technique in a densely populated country. Fracking involves the horizontal pumping of water and chemicals at high pressure to release stores of gas.  MORE