Tag: Sasol

Energy company Sasol to explore potential of green hydrogen project in South Africa

Frank

SOUTH AFRICA – Sasol, an energy and chemical company, has signed a Memorandum of Agreement (MOA) with the Northern Cape Development Agency (NCEDA) to lead the feasibility study to explore the potential of the Boegoebaai green hydrogen project as an export hub for green hydrogen and ammonia. This study is expected to take approximately 24 months. The outcomes of this feasibility study will determine the next step of development. The Boegoebaai green hydrogen development has been designated a Strategic Integrated Project (SIP) in the South African National Development Plan and…

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Imperial and Sasol ink pact to co-develop hydrogen mobility ecosystem

Frank

SOUTH AFRICA – Imperial Logistics (Imperial) and Sasol South Africa (Sasol) have entered into an agreement to collaborate in exploring options and solutions for improving freight sustainability and efficiency in Southern Africa. The two companies will also be evaluating potential cross-border collaboration. Sasol’s aspiration is to play a leading role in the co-creation and development of hydrogen ecosystems, which aims to decarbonize hard to abate sectors such as transportation, using green hydrogen produced at its operations facilities leveraging existing process equipment and proprietary technology. Decarbonizing heavy-duty long-haul trucking using fuel…

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Sasol and Central Energy Fund sign MoU to accelerate gas development in South Africa

Frank

SOUTH AFRICA – Sasol, an integrated energy and chemical company and the Central Energy Fund (CEF) have signed a memorandum of understanding (MoU) to collaborate on accelerating the development of gas solutions in South Africa. This agreement brings together South Africa’s two leading pioneers of the gas industry that possess deep experience in operating across the gas value chain, from exploration to downstream operations. “At the core of achieving our strategic mandate of ensuring security of supply is domestic job creation and an approach to the just energy transition that fosters increasing domestic…

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Sasol, IDC Group ink deal to develop hydrogen economy in South Africa

Frank

SOUTH AFRICA – Petrochemical giant Sasol and the Industrial Development Corporation (IDC) have signed a memorandum of understanding to collaborate on developing and shaping an enabling environment for South Africa’s green hydrogen economy. In a press statement, the parties said the agreement was based on the mutual recognition that South Africa was well placed to harness its world-class renewable energy endowment and infrastructure, as well as Sasol’s Fischer-Tropsch technology and capabilities, to position the country as a worldwide leader in the hydrogen economy. Sasol and the IDC would collaborate on…

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iGAS Energy and CMG exercise rights to up stake in Mozambique pipeline company ROMPCO

Frank

MOZAMBIQUE – Onshore oil and gas exploration iGAS Energy Plc. in partnership with Companhia Mocambiçana de Gasoduto (CMG) declared that they have exercised their pre-emptive rights to acquire a 30% equity stake in the Republic of Mozambique Pipeline Company (ROMPCO) pipeline valued at US$293 million. ROMPCO is a joint venture between Sasol South Africa (50%), CMG (25%) and South African Gas Development Company (SOC) Limited (iGAS) (25%). The joint venture owns the 865-kilometre gas transmission pipeline from Mozambique to South Africa.  This decision is the culmination of a public statement issued by…

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Sasol agrees to sell 30% interest in ROMPCO to an acquisition vehicle

Frank

MOZAMBIQUE- Energy and chemical company Sasol South Africa (SSA), a subsidiary of Sasol, has concluded a sale and purchase agreement (SPA), to sell a 30% equity interest in the Republic of Mozambique Pipeline Company (ROMPCO), subject to pre-emptive rights by other shareholders. In a statement, Sasol said ROMPCO is a joint venture between SSA (50%), Companhia Mocambiçana de Gasoduto S.A. S.A.R.L (CMG) (25%) and South African Gas Development Company (SOC) Limited (iGas) (25%). The joint venture owns the 865km gas transmission pipeline from Mozambique to South Africa. The company said…

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Sasol and Air Liquide invite bidders for the supply 600MW green energy

Frank

SOUTH AFRICA – Energy giant Sasol and French industrial gas supplier Air Liquide are inviting bidders to participate in a Request for Proposal (RFP) process for the supply of renewable energy to Sasol’s South African operations. Sasol has set a greenhouse gas (GHG) target for their South African operations to reduce emissions by at least 10%, off a 2017 baseline, by 2030 and the introduction of renewable energy will be a significant contributor to the company’s decarbonisation efforts. Sasol’s core business is leveraging technologies and the expertise of its people…

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Vaalco completes acquisition of Sasol Gabon’s working interest in Etame Marin block offshore

Frank

GABON – Vaalco Energy has announced its completion of the previously announced acquisition of Sasol Gabon’s 27.8% working interest in the Etame Marin block offshore Gabon, increasing the Company’s total working interest to 58.8%. The transaction had an economic effective date of July 1, 2020. Taking into account the US$4.3 million deposit, net cash flow from the Sasol interest through closing and other purchase price adjustments, Vaalco paid US$29.6 million to Sasol at closing from cash on hand. Vaalco’s reserves, production and financial results for the Sasol interest being acquired…

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Sasol reduces its debt by US$4.26b, avoids dilutive rights issue

Frank

SOUTH AFRICA – Petrochemical giant Sasol has reiterated its decision not to pursue a rights issue, as the group made headway in reducing its debt burden by US$4,26 billion  for its half-year to the end of December 2020. Sasol published its latest results on the Johannesburg Stock Exchange, which showed that the group’s total debt at the end of its interim period stood at US$8.49 billion, compared to US$12.8 billion as at June 30, 2020  for the full-year. This is a notable cut within just six months, which comes largely on the…

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Sasol sells its Mozambique gas- to-power plant for US$145m

Frank

MOZAMBIQUE – Chemicals group Sasol has sold its Mozambique gas- to-power plant Central Termica De Ressano Garcia S.A. (CTRG) to Azura Power for US$145 million In a press statement, Sasol says this transaction is part of its “ongoing, strategy aligned, asset divestment programme.” The disposal of CTRG follows its sale of a 50% stake in its newly-completed Lake Charles Chemicals Project in Louisiana, for US$2 billion to LyondellBasell, a global chemicals and plastics producer a few weeks ago. It has also sold its 50% interest in the Gemini high-density polyethylene…

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