Sasol Ltd. looking to sell Canadian shale gas assets
The South Africa-based energy company has decided the the assets were "non-core" and it will start a structured sale process involving Progress Energy, its partner in the play
CALGARY—South African energy company Sasol Ltd. is looking to sell its Canadian shale gas assets.
The company says it has identified the assets as being non-core and it will start a structured sale process involving Progress Energy, its partner in the asset.
The decision comes as Sasol says it has completed reviews on more than half of its global assets so far.
The company says the examinations have confirmed that the majority of its assets will be retained and clear improvement actions have been defined for each.
However, it says it has decided not to invest in further greenfields gas-to-liquids projects including a proposed GTL project in the United States.
The company says it has also decided not to invest in any additional crude oil refining capacity.