Speciality chemicals now core as Sasol transitions out of capex-heavy phase

Chemicals and energy group Sasol is preparing to sell several assets, including its Canadian shale gas assets, following an overhaul of its corporate strategy, which eschews any further greenfield gas-to-liquids (GTL) investments in favour of smaller acquisitions and projects of between $500-million and $1-billion. In future, the group’s growth would be targeted towards opportunities in the areas of specialty chemicals, Southern African fuel retailing and gas and oil exploration and production in Mozambique and West Africa. Oil refining, GTL, commodity chemicals and renewable-energy were no longer viewed as growth drivers. It would, however, seek to leverage renewable-energy to enable it to reduce emissions.