Sasol CEO outlines expansion plans

Sasol, a global integrated chemicals and energy company, is making strides in social responsibility while expanding its footprint in the global market. In a recent interview with CNBC Africa, Stephen Cornell, joint President and CEO of Sasol, discussed the company's commitment to community development and its ambitious expansion plans. One of the key themes that emerged from the interview was Sasol's dedication to responsible and responsive leadership, particularly in the realm of social impact. The company's 'Iku Sasa' project has been instrumental in addressing the needs of communities around its major operations, not only in South Africa but also in other parts of the world like Mozambique. By focusing on infrastructure and housing upgrades, Sasol is demonstrating its commitment to making a positive difference in the areas where it operates. While the market often associates Sasol with the price of Brent crude, Cornell emphasized that the company views itself as a diversified chemical company rather than just an oil producer. With a significant portion of its profits coming from the chemical sector, Sasol is investing heavily in expanding its chemical operations in North America. The company's strategic shift towards gas-based investments reflects its long-term vision for growth and sustainability. China remains a key focus for Sasol, with ongoing efforts to secure approval for projects like the Ningdong coal-to-liquids initiative. However, Cornell highlighted the company's transition towards gas-based projects, citing opportunities in Asia for future investments. Despite the rhetoric from the Trump administration about reviving the coal industry, Cornell expressed confidence in Sasol's Louisiana project, which relies on US-based ethane feedstocks for production. He emphasized that the project is proceeding as planned and is expected to benefit the US economy through exports. Looking closer to home, Sasol sees the renewable energy targets set by South Africa as an opportunity to leverage natural gas as a transitional fuel. By investing in natural gas infrastructure and power plants, Sasol aims to support the country's energy transition while laying the groundwork for future renewable integration. In the broader African context, Sasol views natural gas as a crucial bridge to achieving renewable energy goals, considering it a viable stepping stone in the journey towards cleaner energy sources. As global leaders convene to discuss investment trends and market opportunities, Asia, particularly China, continues to be a focal point for Sasol and its peers. With the region poised for significant growth across various sectors, including automotive, electricity, and chemicals, Sasol remains optimistic about the prospects for expansion in Asia and beyond. As the company looks towards the future, its commitment to social responsibility and sustainability will undoubtedly remain central to its operations and growth strategy.