Fin24

Sasol buys into Canadian energy firm

2010-12-20 10:42

Johannesburg - Petrochemicals group Sasol [JSE:SOL] has entered an agreement to buy a 50% stake in Canada's Farrell Creek assets for R7.12bn from Talisman Energy.

Sasol, the world's largest producer of fuels from coal, said the two companies have agreed to establish a 50-50 general partnership in Canada that will own Farrrel Creek Assets.

The company said on Monday that Talisman will continue to operate the Farrell Creek assets, associated gas gathering systems and processing facilities.

The two companies have agreed to conduct a joint feasibility study on the economic viability of a gas-to-liquid facility in western Canada.

They have also agreed to collaborate on other western Canadian natural resource opportunities.

Talisman, which is also listed on the Toronto and New York exchanges, is a major producer of gas in the Marcellus shale and also holds leading positions in the Montney, Utica, and Eagle Ford shales.

Comments
  • Lentswe - 2010-12-20 11:30

    Duh...?

  • Ric - 2010-12-20 12:45

    Nice , Sasol spents billions offshore , and we "the SA consumer" pay brent crude prices for our petrol which is made from our own coal from witbank , and then Sasol are given awards for "sustainability"

  • Gigajoules - 2010-12-20 13:45

    Uhm, Ric, if they didn't use the coal for making fuel it probably would've been sold on the export market and you would've paid Brent crude prices for the imported oil, without the benefits of Sasol's investment in SA.

  • Riana - 2010-12-20 16:26

    Sasol doesn't make the pricing rules Ric, the Government does...

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