SOUTHWEST LOUISIANA (KPLC) - Sasol announced today that it will no longer pursue equity investments in greenfield gas-to-liquids projects.
According to the news release, the decision is based on an assessment of the long-term macroeconomic environment and its impact on project returns. As a result, Sasol is discontinuing the proposed U.S. gas-to-liquids project in Southwest Louisiana.
Sasol North American Operations Senior Manager and Corporate Affairs Russell Johnson said the company reiterated the importance of Southwest Louisiana in its future growth plans in the chemicals business. Sasol's short-term focus in the United States remains successfully delivering the Lake Charles Chemicals Project (LCCP). On Sept. 30, Sasol announced that the project is 79 percent complete. Long-term, the LCCP will establish Sasol's Lake Charles location as an integrated, multi-asset site that will enable growth for decades to come, providing a strategic platform for further investment in our chemicals business.
KPLC will have details as soon as more information becomes available.