Sasol to wind up gas study next year
June 20, 2005
Sasol, the world`s biggest producer of motor fuel from coal, will next year complete a study on using natural gas in Iran as part of a strategy that may double the number of plants it plans to build.
Sasol might also conclude talks with gas suppliers, which may lead to another plant in Australia, adding to its existing plants in Qatar and Nigeria, said chief executive Pieter Cox.
Sasol, together with Qatar Petroleum, plans early next year to open a $1.5 billion (R10 billion) plant in Qatar that will produce 34 000 barrels of fuel a day from natural gas. It is also considering a further $6 billion expansion in a venture with Chevron.
`They`re taking their proprietary technology and refocusing it on developing markets, which is positive news for them,` said Daniel Malan, who helps manage the equivalent of $521 million at Regarding Capital Management in Cape Town.
Other plants might be built in Venezuela, Russia and Indonesia, Cox said.
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