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Financial Times
Financial Times
Business
Guy Chazan and Patricia Nilsson in Ludwigshafen

Germany confronts a broken business model

BASF’s integrated chemical complex in Ludwigshafen © Ben Kilb/FT

Hives of activity don’t get bigger — and busier — than BASF’s headquarters in Ludwigshafen. The size of a small town, it’s the largest integrated chemical complex in the world, with one of Europe’s biggest wastewater treatment plants, its own hospital and fire brigade.

The lifeblood of Ludwigshafen is natural gas. It is the substance that courses through its dense network of pipes, the fuel for its power plants, the feedstock for its chemical processes. And Russia’s war in Ukraine has knocked out its main supplier.

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