Sasol (NYSE: SSL) of South Africa has made plans to build the first plant in the U.S. to convert natural gas to diesel fuel.
Sasol is a technology-driven energy and chemicals company that was founded in 1950 in Sasolburg. Sasol converts gas and coal into liquid fuels, fuel components and chemicals.
Sasol intends to build a plant near Lake Charles in Louisiana that would be capable of producing up to 96,000 barrels a day of diesel fuel and naphtha (a chemical feedstock). Additionally, the plant can produce jet fuel. It is estimated to cost $10 billion to build this first-of-its-kind plant.
On Tuesday, Sasol said it would take about 18 months to study the logistics for this new plant.
The plant would employ 850 people when operational and the construction of the plant would be able to employ up to 5,500 people.
The fuel produced will be low in sulphur and contaminants; it could be used in any diesel-engine vehicle even if it is not diluted.
Sasol currently operates in 38 countries, employees around 33,000 people and is listed on the New York Stock Exchange.
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