Sasol completes $1bn deal for stake in Canada shale-gas assets

02 March 2011 13:51  [Source: ICIS news]

TORONTO (ICIS)--Sasol has completed its Canadian dollar (C$) 1.05bn ($1.08bn) acquisition of a stake in a shale-gas project in western Canada, the South African energy and petrochemicals major said on Wednesday.

Sasol said in December that it would acquire a 50% stake in Talisman Energy’s Farrell Creek shale-gas assets in Montney Basin, British Columbia.

Sasol and Talisman are also planning a feasibility study for a gas-to-liquids (GTL) project to market the Farrell Creek’s gas. The GTL process converts gas to diesel, naphtha and liquefied petroleum gas (LPG).

($1 = C$0.97)

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By: Stefan Baumgarten
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