JOHANNESBURG, South Africa, Aug. 28 /PRNewswire-FirstCall/ -- Sasol (JSE: SOL; NYSE: SSL) and Shenhua today announced that they have agreed to focus their full attention on the 80 000 barrels per day CTL feasibility study in the Ningxia Hui Autonomous Region. The joint Shenhua Ningxia Coal Group and Sasol Project in the Ningxia Hui Autonomous Region is one of only two CTL projects which will continue with further study and development in China. This strategy aligns with a recent notice issued by the National Development and Reform Commission of the Peoples Republic of China.
The proposed site in the Ningdong Chemical and Energy base has excellent infrastructure. A significant amount of work has been completed in preparing the physical site, providing the platform for potential future expansion. The significant advantages of this approach were demonstrated at Secunda in South Africa during the phased construction of the Sasol Two and Sasol Three projects'.
Governor Wang Zhengwei of the Ningxia Hui Autonomous Region recently visited Sasol in South Africa and has expressed his full support for the project.
Although the greater focus on the Ningxia feasibility study will have the result that Sasol's Shaanxi feasibility study will not proceed at this stage, Sasol and Shenhua will maintain the good relationships with the Shaanxi Province which have been established over many years.
Pat Davies, Chief Executive of Sasol said, "I believe that it is the right decision to focus all our attention and resources on ensuring the planning and construction of a world scale 80 000 barrel per day, fully integrated CTL plant in the Ningxia Hui Autonomous Region. Sasol is delighted to be a full partner in the integrated CTL project, to bring its world leading proprietary technology and proven commercial CTL experience to China to produce high quality environmentally friendly fuels and to add significant value to both the Chinese economy and Sasol."
Sasol Investor Relations team
Tel.: +27 11 441 3113 / 3563 / 3321
investor.relations@sasol.com
About Sasol:
Sasol is an integrated oil and gas company with substantial chemical interests. Based in South Africa and operating worldwide, Sasol is listed on the NYSE and JSE stock exchanges. We are the leading provider of liquid fuels in South Africa and a major international producer of chemicals. Sasol uses proprietary Fischer-Tropsch technologies for the commercial production of synthetic fuels and chemicals from low-grade coal and natural gas. We manufacture more than 200 fuel and chemical products that are sold worldwide. In South Africa we also operate coal mines to provide feedstock for our synthetic fuels plants. Sasol operates the only inland crude oil refinery in South Africa. The group produces crude oil in offshore Gabon, supplies Mozambican natural gas to end-user customers and petrochemical plants in South
Africa, and with partners involved in gas-to-liquids fuel joint ventures in Qatar and Nigeria. Internet address: http://www.sasol.com
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