Investor Presentaiton
Shale gas in the U.S.: Lower energy and
feedstock cost
Price development of oil / natural gas
150 years
Q-BASF
We create chemistry
Crude oil
in US$/bbl
120
100
80
60
60
40
40
20
20
de-coupling
of crude oil &
natural gas
prices
Natural gas
in US$/MMBTU
20
Crude Oil WTI
Game changer shale gas
■ Increased U.S. shale gas
production disconnected
crude oil prices from natural
gas prices in North America
■ Increased production of
natural gas liquids (NGLS):
ethane, propane, butane
■ NGL price drop drives shift
to lighter cracker feed slates
-
Improved profitability of
light feed crackers
Narrow cracker output
15
Natural Gas
Germany
10
10
Natural Gas
5
USA
0
0
1990
1995
2000
2005
2010
2015
2020
BASF Capital Market Story January 2015
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Natural gas price Germany: Statistisches Bundesamt
"Grenzübergabepreis" Germany
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