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As part of the agreement, ENN Energy will make investments in the construction of essential natural gas gate stations and pipelines to facilitate the delivery. [Image: BASF]

German nationalised gas trader SEFE is exploring transforming some of its underground storage caverns and pipelines to clean hydrogen, its CEO said, indicating this could involve investments of roughly 500 million euros ($541 million).

FRANKFURT: German chemicals giant BASF on Friday reported a heavy fall in profits in the second quarter as it was hit by weak demand and high energy costs.

BASF believes Wintershalls Russian exposure could be a hard sell if the IPO is held too quickly.

The company will exit short and mid-term contracts with Gazproms London-based entity.