WESTLAKE, LA (KPLC) - Citing low international oil prices, Sasol has announced it will delay the final investment decision on the large-scale, gas-to-liquids plant it wants to build at its existing facility in Westlake.
Wednesday's announcement does not affect the status of the $8.1 billion ethane cracker and derivatives complex the company is building at its facility.
"We are proceeding with the construction of the ethane cracker and derivatives complex in Louisiana," Sasol said in a news release. "Given the robust project economics, the Sasol team is confident that this facility is the first step in developing the site near Lake Charles into an integrated multi-asset, multi-business hub, which will enable future growth for several decades to come."
Also, the decision does not mean the GTL plant is dead in the water.
"Albeit at a much slower pace, we will continue to progress the GTL facility," said David Constable, Sasol President and Chief Executive Officer. "This will allow us to evaluate the possibility of phasing in the project in the most pragmatic and effective manner. North America and our home base in Southern Africa remain strategic investment destinations for Sasol."
More information is available at www.sasol.com.