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Sasol to sell Escravos gas-to-liquids plant to Chevron

Published 01/07/2020, 15:38
Updated 01/07/2020, 15:42
© Reuters.

© Reuters.

July 1 (Reuters) - South African petrochemicals giant Sasol
SOLJ.J said on Wednesday it would sell its indirect interest
in the Escravos gas-to-liquids (EGTL) plant in Nigeria to
Chevron CVX.N for an undisclosed sum.
The world's top manufacturer of motor fuel from coal said it
would continue to support Chevron in the performance of the EGTL
plant through ongoing catalyst supply, technology and technical
assistance. The company said other sale processes, including its
interests in the Republic of Mozambique Pipeline Investment
Company pipeline and Central Termica de Ressano Garcia gas-fired
power plant in Mozambique, are well underway.
In March, Sasol had accelerated its asset disposal programme
and said that it could sell up to $2 billion of its shares to
ensure that it can pay its debt following a slump in oil prices
and fears over the coronavirus outbreak.

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