IAS 24 “Related Party Disclosures” requires the disclosure of transactions with related parties; both with related companies that are not fully consolidated, as well as with related individuals.
Material supply relationships exist between the proportionally consolidated joint venture companies Wintershall Erdgas Handelshaus GmbH & Co. KG, Berlin, Germany, Wintershall Erdgas Handelshaus Zug AG, Zug, Switzerland, and companies of the BASF Group for the supply of oil and gas. The unconsolidated portion of these supplies amounted to €1,402 million in 2008 (2007: €726 million).
In addition, there are material supply relationships with Ellba C.V., the Netherlands, and Ellba Eastern Private Ltd., Singapore. The unconsolidated portion of these supplies amounted to €493 million in 2008 and €446 million in 2007.
There were no reportable related party transactions with members of the Board of Executive Directors or the Supervisory Board.
BASF has not issued loans to members of the Board of Executive Directors or the Supervisory Board.
More information on receivables and payables with companies accounted for proportionally, at acquisition cost or according to the equity method can be found in and