BASF's Dual Track: LNG Tech Goes Live in Texas as Agrochemical Spinoff Takes Shape
Published on 09/19/2026 at 12:40 | Editorial boerse-global.de
BASF's restructuring story is no longer confined to the boardroom. On September 9, Cheniere Energy commissioned the German chemical maker's Durasorb LNG-MAX technology at its Corpus Christi facility in Texas, capping an installation process that began last year. The remaining units are scheduled for completion by the end of 2027 — a quiet but telling win for a company that has spent much of the past year shedding assets rather than showcasing them.
That operational milestone sits alongside a far larger transformation. The Ludwigshafen-based DAX heavyweight is preparing to carve out its agricultural division, with a Frankfurt stock exchange listing targeted for mid-2027. Four major investment banks were mandated as global coordinators this past Monday, formalizing a process that has already moved roughly 80 percent of Agricultural Solutions' worldwide business onto standalone units running a separate ERP system, according to media reports. The entity is to be structured as a Societas Europaea.
A Calendar Packed With Catalysts
Investors will get their first detailed look at the agrochemical unit's operational and strategic standing on November 24, when BASF hosts a Capital Markets Day. That event follows the release of third-quarter figures on October 28 — the next hard checkpoint for a management team that raised its full-year guidance more than a month ago.
The numbers behind that optimism come from a stronger second quarter. BASF now targets full-year EBITDA before special items of EUR 6.9 billion to EUR 7.7 billion. Shares have climbed 16 percent since the start of the year, closing Friday at EUR 51.53.
Should investors sell immediately? Or is it worth buying BASF?
Portfolio Slimming Delivers Cash
The spinoff preparation rests on a balance sheet already reshaped by divestitures. At the end of June, BASF completed the sale of its coatings business to financial investor Carlyle at an enterprise value of EUR 7.7 billion, generating a pre-tax cash inflow of roughly EUR 5.8 billion. The group retained a 40 percent stake in the joint venture, now operating as Surventis.
A second disposal is nearing the finish line: the sale of the silicates business and the Düsseldorf-Holthausen production site to PQ Corporation is expected to close in the second half of 2026. Together, the transactions free up financial room and cut complexity, even as management keeps its focus on securing the future of the Ludwigshafen headquarters.
Niche Strength Alongside Structural Change
While the portfolio overhaul dominates headlines, projects such as the Cheniere installation underline the value of BASF's technology-driven specialty operations. For shareholders, these businesses carry growing weight as the executive board simultaneously reorganizes the group's core architecture.
With the operational recovery gaining traction and the agrochemical listing on a fixed trajectory, attention now shifts to whether the coming quarterly results can underpin the annual targets — and whether the spinoff timetable holds through the second half of the year.
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