South Africa's Sasol Interested in Domestic Shale Gas Industry

Sasol, the South African petrochemical group, is interested in venturing into the domestic shale gas industry, according to company’s chief executive.

"I am very excited because of the technologies we can bring to the table. We've got shale gas upstream experience in British Columbia," Sasol Chief Executive David Constable said on Monday, reports news agency Reuters.

Late last year, South Africa's cabinet approved regulations on shale gas exploration and exploitation.

"We want to get involved and participate and monetize that gas in country with gas to liquid, gas to power, gas to chemicals," he said.

Shell has applied for an exploration licence and once all of the new regulations are in place it is expected to be near the front of the line, Reuters reports.

"We are really interested in what is going in the Shell block and would love to farm in or take a piece of it. Shell is issuing profit warnings and pulling back capex right now," Constable said.

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