2.2 – Joint Operations

The joint operations include, in particular:

• Ellba C.V., Rotterdam, Netherlands, which is jointly operated with Shell for the production of propylene oxide and styrene monomer
• BASF DOW HPPO Production B.V.B.A., Antwerp, Belgium, which is jointly operated with Dow for the production of propylene oxide
• Butachimie SNC, Chalampé, France, which is jointly operated with Invista for the production of adiponitrile (ADN) and hexamethylenediamine (HMD)
• Alsachimie S.A.S., Chalampé, France, which is jointly operated with Domo Chemicals for the production of adipic acid

BASF controls these companies jointly with the respective partner. The companies sell their products directly to the partners. The partners ensure ongoing financing of the companies by purchasing the production. The companies were therefore classified as joint operations in accordance with IFRS 11.

AO Achimgaz, Novy Urengoy, Russia, which was jointly operated with Gazprom for the production of natural gas and condensate, was derecognized in connection with the deconsolidation of the oil and gas business as of April 30, 2019.