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Sasol to end GTL projects worldwide - KATC.com | Continuous News Coverage | Acadiana-Lafayette

Sasol to end GTL projects worldwide

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Sasol has abandoned plans for a gas-to-liquids plant in the Lake Charles area that would have cost as much as $15 billion, saying the low price of oil and a volatile marketplace make the project "uneconomic."

The Advocate is reporting, The plant would have converted natural gas into diesel and other refined products and accounted for bulk of a chemical complex whose estimated price of $24 billion to $26 billion would have been the biggest industrial investment in Louisiana history. The South African company said it will focus on completing its $11.1 billion ethane cracker at the complex, which was 79 percent complete as of Sept. 30.

Sasol's gas-to-liquids plant is the second such project to be abandoned in the state within the past four years. Royal Dutch Shell plc canceled a proposed Ascension Parish plant in 2013 after its projected cost of $12.5 billion quickly ballooned to more than $20 billion.

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