Energy and chemicals group Sasol says its continuing to assess several technology and feedstock solutions to bolster post-2030 liquid fuels and chemicals volumes at its Secunda refinery, in Mpumalanga, while still meeting its commitment to reduce greenhouse gas emissions by 30% by the end of the decade. None of these alternatives have advanced to maturity, however, and the JSE group has therefore revised the refinery’s post-2030 yearly production guidance to only 6.7-million tons from the 7.5-million-ton-plus output achieved previously.
Energy and chemicals group Sasol says it is continuing to assess several technology and feedstock solutions to bolster post-2030 liquid fuels and chemicals volumes at its Secunda refinery, in Mpumalanga, while still meeting its commitment to reduce greenhouse-gas emissions by 30% by the end of the decade.
As a consequence, it has also impaired the liquid-fuels-linked assets at the integrated complex by a whopping R36-billion. Sasol’s earnings before interest and tax fell by 65% to R21.5-billion year-on-year in 2023, partly because of the impairment of assets. The group was initially aiming to sustain volumes by progressively switching from coal to gas as a transition feedstock, but it has to date failed to secure significant additional gas and has also shelved an idea for using imported liquefied natural gas on the basis that such a solution was uneconomic.
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