BRIEF-Air Liquide To Acquire Oxygen Production Site In Secunda, South Africa

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BRIEF-Air Liquide To Acquire Oxygen Production Site In Secunda, South Africa
Credit: © Reuters.

Sept 10 (Reuters) - L' Air Liquide Societe Anonyme pour l'Etude et l'Exploitation des Procedes George AIRP.PA :

* FINALIZES AGREEMENT WITH SASOL TO ACQUIRE THE BIGGEST OXYGEN PRODUCTION SITE IN THE WORLD WITH A PLAN TO REDUCE ITS CO2 EMISSIONS BY 30%

* WILL OWN AND OPERATE 16 AIR SEPARATION UNITS (ASU) OF THIS SITE, WITH AN INSTALLED CAPACITY OF 42,000 TONS/DAY

* SOLUTION PROVIDED WOULD ALLOW, IN COORDINATION WITH SASOL, TARGETED REDUCTION OF 30% TO 40% IN CO2 EMISSIONS ARISING FROM OXYGEN PRODUCTION BY 2030

* WILL SUPPLY VARIOUS GASES TO SASOL'S OPERATION UNDER A LONG-TERM GAS SUPPLY AGREEMENT WITH AN INITIAL TERM OF 15 YEARS.

* AMOUNT OF INITIAL INVESTMENT WOULD BE APPROXIMATELY 8.5 BILLION SOUTH AFRICAN RAND (CIRCA 440 MILLION EUROS)

* AGREEMENTS ARE SUBJECT TO USUAL SUSPENSIVE CONDITIONS (NOTABLY SOUTH AFRICAN COMPETITION AUTHORITY'S APPROVAL), WHICH SHOULD NOT BE FULFILLED EARLIER THAN DECEMBER 2020

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