Sasol to sell part of Lake Charles business to LyondellBasell for $2bn

SOUTH AFRICA – Chemicals and energy group Sasol has entered into a $2billion agreement to sell part of its Lake Charles business in Louisiana in United States to multinational chemicals group LyondellBasell. If approved by Sasol shareholders, LyondellBasell would pick up 50% of the Lake Charles base chemicals business and the two parties would form a joint venture. Sasol has grappled with cost overruns at Lake Charles in recent years as 2020 has delivered an explosion at the facility, a hurricane, and a slump in oil price due to the Covid-19…

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