|
Sasol to provide technology and risk-based finance for $1.7bn GTL contract in
Nigeria
Sasol Limited
(Incorporated in South Africa)
(Registration number: 1979/003231/06)
ISIN Code: ZAE000006896
Share Code: SOL
NYSE Code: SSL
(`Sasol`)
Sasol to provide technology and risk-based finance for $1.7bn GTL contract in
Nigeria
The $1.7 billion engineering, design and procurement contract for the Escravos
Gas to Liquids plant (EGTL) in Nigeria has been awarded to Team JKS (a
consortium of Japan Gas Corporation, KBR and Snamprogetti).
EGTL will use Sasol`s world-renowned Slurry Phase DistillateTrade Mark (SPD)
Fischer-Tropsch (F-T) process and Sasol, the South African-based petrochemical
company, is also providing a portion of the risk-based finance for the project.
The announcement was made in Nigeria by the EGTL owners, the Nigerian National
Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL), earlier today.
This contract provides a major boost to the development of GTL diesel, which is
set to revolutionise the performance of diesel technology and improve air
quality by reducing vehicle emissions.
The plant will be built at the CNL facility at Escravos in Nigeria`s Delta
province and is planned to produce 34 000 barrels per day of GTL products
including GTL diesel, GTL naphtha and a small amount of liquefied petroleum gas
(LPG).
Sasol chief executive Pieter Cox says: `This project is an affirmation of the
New Partnership for Africa`s Development (NEPAD) goal of achieving sustainable
socio-political stability and economic growth in Africa. We are very proud to
be working with a fellow African company to deliver a cutting edge solution to
the world`s future transport fuel needs.`
EGTL will be only the second commercial-scale GTL plant outside of South Africa
making Nigeria a key producer of top quality GTL products. Oryx GTL, a joint
venture between Qatar Petroleum and Sasol, is the world`s first commercial scale
GTL plant and is expected to start producing by the first quarter of 2006.
GTL diesel is very low in aromatics and is a low, almost no-sulphur product,
which reduces environmental emissions. GTL`s power rating (cetane) is almost 50%
more than the cetane rating of traditional diesel, allowing a reduction in noise
and smoke together with improved cold-start properties and improved overall
performance.
Compatible with existing diesel technology and easily distributed using existing
infrastructure, major motor manufacturers view GTL as an important part of the
future fuel slate, especially where air quality is a pressing issue.
DaimlerChrysler has already begun research into GTL diesel and its effect on
emissions and engine performance.
Sasol is at the forefront of the GTL industry and, together with its partners,
is planning to produce 500 000 bbls/day of liquid fuels from natural gas by end
of 2013. Sasol currently produces 160 000 bbls/day of liquid fuels from
synthetic gas derived from coal at its Secunda facility in South Africa.
ends
Johann van Rheede
Media Manager
Sasol Limited
Direct telephone +27 11 441 3295
Mobile +27 11 (0) 82 329 0186
Direct facsimile +27 11 441 3236
Email johann.vanrheede@sasol.com
Date: 08/04/2005 03:58:08 PM
Produced by the JSE SENS Department |
|
