(Sasol, 1.Jul.2020) — Sasol and Chevron have signed an agreement that will result in Sasol selling its indirect beneficial interest in the Escravos GTL (EGTL) plant in Nigeria to Chevron. The transaction will release Sasol from associated company guarantees and other obligations. Sasol will continue to support Chevron in the performance of the EGTL plant through ongoing catalyst supply, technology and technical support.
The transaction has an agreed economic effective date of 1 September 2019.
EXPLOSIVES JOINT VENTURE
In October 2019 Sasol announced its intention to form a new explosives partnership with Enaex S.A. Sasol has concluded the transaction to sell a 51% share in the business to Enaex, and on 1 July 2020, Enaex Africa in association with Sasol, will officially start operating in South Africa and on the African Continent.
These transactions form part of Sasol’s accelerated divestment programme to streamline our portfolio by focusing on core assets, which will enable Sasol’s repositioning over the following 24 months.
Divestment processes are well underway with respect to Sasol’s equity interests in the Republic of Mozambique Pipeline Investment Company (Pty) Ltd (ROMPCO) pipeline and the Central Termica de Ressano Garcia (CTRG) gas-fired power plant in Mozambique, and partnering discussions in relation to the Base Chemicals assets in the USA are far advanced. Further updates on these and other disposals will be provided as and when appropriate.