Sasol abandons large-scale projects for Lake Charles complex
The new statement followed the company’s decision to cancel its gas-to-liquids (GTL) project in Louisiana, which cost nearly $15 billion dollars.
Accordingly, Sasol will be focused on completing the $11 billion Lake Charles complex from now until 2022. With moving away from megaprojects, the company is planning to generate the much-needed cash flow for its financial targets amid Harvey-driven costs.
The company has completed 79% of the project and aims to bring the complex online by the second half of 2018.
The complex is expected to house a 1.5 million tons/year ethane cracker as well as six downstream plants to produce ethylene oxide, MEG, LDPE and LLDPE.
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