Sasol announces beneficial operation of Louisiana low-density polyethylene (LDPE) unit

Sasol Limited

PR86628

 

LAKE CHARLES, La., May 27, 2020, /PRNewswire=KYODO JBN/--

 

Seventh unit marks completion of Lake Charles Chemicals Project

 

Sasol today announced our LDPE unit reached beneficial operation on 15 November

2020. The LDPE unit is the seventh and final Lake Charles Chemicals Complex

unit to come online. The LCCP is now 100 percent complete with total capital

expenditure forecast to be within the previously communicated guidance of US$12,8 billion.

 

"This milestone safely brings our Lake Charles Chemicals Project to a close and

sets the stage for the next step in the evolution of our chemicals business,"

said Sasol President and Chief Executive Officer Fleetwood Grobler. "The

completion of this unit and its impending transition to our joint venture with

LyondellBasell will accelerate our transformation to a more specialty chemicals-focused

company with a strong presence of base chemicals in our portfolio."

 

Sasol's LDPE unit uses ExxonMobil technology and has a nameplate capacity of

420,000 tons per year (420 ktpa). LDPE is used to manufacture plastic bags,

shrink wrap and stretch film, coatings for paper cups and cartons, container

lids, squeezable bottles, and other applications. The beneficial operation of the final

LCCP unit signals that 100% of total nameplate capacity of the LCCP is operational.

 

The LDPE unit is one of the three LCCP plants that will form part of the

Sasol/LyondellBasell Louisiana Integrated Polyethylene joint venture.

To date, Sasol's Lake Charles Chemicals Project has generated more than 800

full-time quality manufacturing jobs, with up to 6,500 people on site during

construction, US$4 billion to Louisiana businesses and nearly US$200 million in

local and state taxes.

 

Issued by:

 

Matebello Motloung, Manager: Group Media Relations

Direct telephone: +27 (0) 10 344 9256; Mobile: +27 (0) 83 773 9457

matebello.motloung@sasol.com

 

Alex Anderson, Senior Manager: Group External Communication

Direct telephone: +27 (0) 10 344 6509; Mobile: +27 (0) 71 600 9605

alex.anderson@sasol.com

 

In the U.S.:

 

Issued by:

 

Sarah Hughes, Manager Lake Charles Corporate Affairs

Direct telephone: +1 (346) 313-6151

sarah.hughes@us.sasol.com

 

Sasol may, in this document, make certain statements that are not historical

facts and relate to analyses and other information which are based on forecasts

of future results and estimates of amounts not yet determinable. These

statements may also relate to our future prospects, expectations, developments

and business strategies. Examples of such forward-looking statements include,

but are not limited to, the impact of the novel coronavirus (COVID-19) pandemic

on Sasol's business, results of operations, financial condition and liquidity

and statements regarding the effectiveness of any actions taken by Sasol to

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exchange rate fluctuations, changing crude oil prices , volume growth,

increases in market share, total shareholder return, executing our growth

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change strategy and business performance outlook. Words such as "believe",

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forward-looking statements will not be achieved. If one or more of these risks

materialise, or should underlying assumptions prove incorrect, our actual

results may differ materially from those anticipated. You should understand

that a number of important factors could cause actual results to differ

materially from the plans, objectives, expectations, estimates and intentions

expressed in such forward-looking statements. These factors and others are

discussed more fully in our most recent annual report on Form 20-F filed on 25

August 2020 and in other filings with the United States Securities and Exchange

Commission. The list of factors discussed therein is not exhaustive; when

relying on forward-looking statements to make investment decisions, you should

carefully consider both these factors and other uncertainties and events.

Forward-looking statements apply only as of the date on which they are made,

and we do not undertake any obligation to update or revise any of them, whether

as a result of new information, future events or otherwise.

Please note: One billion is defined as one thousand million. bbl – barrel, bscf

– billion standard cubic feet, mmscf – million standard cubic feet, oil

references brent crude: mmboe – million barrels oil equivalent.

 

All references to years refer to the financial year ended 30 June.

Any reference to a calendar year is prefaced by the word "calendar".

Comprehensive additional information is available on our website:

www.sasol.com

 

About Sasol:

 

Sasol is a global integrated chemicals and energy company spanning 30 countries.

Through our talented people, we use selected technologies to safely and sustainably

source, manufacture and market chemical and energy products globally.

 

About Sasol's Information Privacy Policy:

 

We wish to inform you about the processing of your Personal Information by

Sasol South Africa Limited and your rights under applicable data protection

law, as interpreted and included in Sasol Information Privacy Policy.

 

Within our company, only Sasol Group Media Relations will receive your Personal

Information to fulfil the purpose of maintaining the relationship with the

receiver in his/her capacity as a member of the media. You have the right to

request for the correction or deletion of your Personal Information stored by

us at address: Sasol Place, 50 Katherine Street, Sandton in Johannesburg. You

also have a right to restrict the processing of your Information. To exercise

your privacy rights or find out more about Information Privacy Policy, kindly

contact our Privacy Office on: privacy@sasol.com

 

SOURCE: Sasol Limited

 

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