Sasol takes 50% stake in Canada shale project

Sasol has completed a $1.08 billion deal for a 50% stake in a western Canada shale gas project, the South Africa-based energy major said on Friday.

The acquisition, worth 1.05 billion in Canadian currency (C$), gives Sasol a 50% interest in Talisman Energy’s Cypress A assets in the Montney Basin.

Officials estimated the contingent resource for Cypress A at 11,200 billion cubic feet.

The deal could eventually lead to a gas-to-liquids project in the region, Sasol officials said when first announcing the deal in March.

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