Sasol out of South Africa is expected to sell its stake in the 865-km ROMPCO natural gas pipeline running from its operations in the Pande and Temane onshore fields in Mozambique to Secunda in South Africa. The company is expecting bids through the end of the month.
The sale is part of the company’s plan to sell of a significant share of its global assets to raise much needed cash to pay off some debt. Potential bidders include the South African government, which owns 25% through its iGas unit. South Africa’s Nedbank has been appointed to handle the transaction.
A power plant in Mozambique is also expected to be on the auction block. Sasol holds a 49% interest in the 175-MW Central Termica de Ressano Garcia (CTRG) power plant. Deloitte has reportedly been retained to handle this asset sale.
Source: Petroleum Africa