Page 7 - DMEA Week 34 2022

DMEA COMPANIES DMEA

High oil and chemical prices helped improve the company’s earnings (Image: Sasol)
The company’s president and CEO Fleetwood in the first half of the financial year, as well as
Grobler said: “Financial Year 2022 was charac- adverse weather events in the KwaZulu-Natal
terised by a number of factors impacting our province that resulted in damage to port export
business, including geopolitical tensions, further infrastructure.
COVID-19 lockdowns in China, weather-re- Chemicals America also recorded lower pro-
lated events and global supply chain disruptions. duction compared to the prior year, largely due
These conditions dampened global demand and to the divestments of its 50% interest in the US
triggered fears of recession in both advanced and Base Chemicals business at Lake Charles and its
developing economies. Amidst this volatility, we 50% interest in the Gemini high-density poly-
demonstrated resilience, delivering a strong set ethylene joint venture, concluded in December
of financial results for the year in a complex and 2020.
difficult external environment.” Addressing climate change, Grobler noted,
Sasol produced lower volumes across most of is a key part of Sasol’s strategy. “We have plans
its segments compared to the prior year, Grobler to decarbonise our operations by 2050 through
said, mainly due to the operational challenges multiple viable pathways to realise our net-zero
experienced in its South African value chains ambition,” he said. ™

TERMINALS & SHIPPING
BP tanker arrives in Mozambique’s

offshore zone to load first LNG cargo

AFRICA AN LNG tanker operated by BP (UK) was due development target within the offshore licence
to arrive in Mozambique on August 24 to pick area assigned to Coral South LNG, the consor-
up the south-eastern African country’s first tium led by Eni (Italy) that is developing the
export cargo of the fuel, Bloomberg reported field.
earlier this week. According to Kpler shipping Eni is in the final stages of preparing to launch
data cited by Natural Gas Intelligence, it met that regular commercial production operations at
deadline and was present on that date. the site, which lies off the coast of Mozambique’s
TradeWinds had reported earlier in the northernmost Cabo Delgado province, and is
week, also citing Kpler shipping data, that the targeting first exports next month. (TradeWinds
tanker would arrive on August 18. However, reported on August 17 that the date of the first
Bloomberg gave the later date on August 19, cit- tanker shipment had recently been brought for-
ing its own compilation of shipping data. LNG ward from the previous date of September 21 to
Prime concurred, saying that the ship’s AIS data September 10.)
as provided by VesselsValue indicated the same The Italian major is using the $7bn, 3.4mn
arrival date. tonne per year (tpy) Coral Sul FLNG vessel to
BP, which has signed an agreement mak- develop a section of Area 4 in the Rovuma basin,
ing it the sole off-taker of LNG from the Coral a zone where several other international oil
Sul FLNG vessel, is using the British Mentor, a companies (IOCs), among them TotalEnergies
173,644-cubic metre tanker, to load the cargo. of France and ExxonMobil (US), plan to invest
It will pick up the gas from the Coral Sul float- up to $50bn in developing larger projects. IOCs
ing LNG (FLNG) vessel, which was installed at have already discovered about 5.1 trillion cubic
the Coral field earlier this year. Coral is the first metres of gas in the basin.

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