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GTL – a real gas commercialisation optiong pGas to Liquids Conference 2012 – London, UK
5 October 2012
Sasol - an integrated technology-driven company
GTL: a compelling value proposition
GTL: a new commercial reality
GTL: a bright future…
2Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
forward-looking statements
Sasol may, in this document, make certain statements that are not historical facts and relate to analysesand other information which are based on forecasts of future results and estimates of amounts not yetdeterminable. These statements may also relate to our future prospects, developments and businessstrategies. Examples of such forward-looking statements include, but are not limited to, statementsregarding exchange rate fluctuations, volume growth, increases in market share, total shareholder returnand cost reductions. Words such as “believe”, “anticipate”, “expect”, “intend”, “seek”, “will”, “plan”, “could”,“may”, “endeavour” and “project” and similar expressions are intended to identify such forward-lookingstatements, but are not the exclusive means of identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risksthat the predictions, forecasts, projections and other forward-looking statements will not be achieved. If oneor more of these risks materialise, or should underlying assumptions prove incorrect, our actual results maydiffer materially from those anticipated. You should understand that a number of important factors couldcause actual results to differ materially from the plans, objectives, expectations, estimates and intentionsexpressed in such forward-looking statements. These factors are discussed more fully in our most recentannual report under the Securities Exchange Act of 1934 on Form 20-F filed on 7 October 2011 and in otherfilings with the United States Securities and Exchange Commission. The list of factors discussed therein isnot exhaustive; when relying on forward-looking statements to make investment decisions, you shouldcarefully consider both these factors and other uncertainties and events. Forward-looking statements applyonly as of the date on which they are made, and we do not undertake any obligation to update or revise anyof them, whether as a result of new information, future events or otherwise.
3Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
Sasol - an integrated technology-driven company
GTL: a compelling value proposition
GTL: a new commercial reality
GTL: a bright future…
4Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
sasol at a glance
● An integrated energy and chemicals company
● The world’s largest producer of synthetic fuels
● South Africa’s leading energy and chemicals ● Turnover (US$20.3bn)1
● Market cap (US$33 4bn)2
company
● Pioneer in gas-to-liquids (GTL) and coal-to-liquids
(CTL) t h l
● Market cap (US$33.4bn)2
● Listed on JSE (SOL) andNYSE (SSL)(CTL) technology
● 60 years experience in CTL, GTL and related
technologies
NYSE (SSL)
● Exploration, development, production, marketing and technologies
● In-house technology development capacity (~255
engineering and science PhDs)
p , gsales operations in more than 35 countries
● Strong intellectual property portfolio (490 registered
patent families)
● ~34 000 employees worldwide
5Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
Notes1 For year ending 30 June 2011 2 Market capitalisation at 31 December 2011
our integrated business model
Crude oil – open market purchases
Fuel components
Refining and blendingp g
Exploration and production of
Syngas productionGTL/CTL
technology (LT or HT)
Co-products Recovery and beneficiation
production of feedstock• Coal• Gas• Oil
production Marketingof
products
Chemical feedstock
Chemical workup
Chemical feedstock – third party producer
6Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
New Energy New Energy
ConfidentialCopyright @ 2012, Sasol New Business Development
Sasol - an integrated technology-driven company
GTL: a compelling value proposition
GTL: a new commercial reality
GTL: a bright future…
7Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
aligning the GTL planets
GTL
8Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
the GTL process
Reforming1
Product work-up
GTLproducts
3
Gasrecovery
GTLsynthesis
work-up products
2
recoveryand
clean-up
synthesis
9Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
a pathway for gas into the transportation sector
Gas 23,8% Household and other
Hydro
Nuclear
6,6%
5,5% Electricity
Coal 29,4% Industry
Oil 34,7% Transportation
10
Source: EIA, BP Statistical Review of World Energy 2010, New Scientist-world energy use
Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
value adding expansion potential
Diesel and Kerosene
Naphtha and LPG
GTLNaphtha and LPG
Paraffin Cuts
Wax Products
Base Oils
AmmoniaGas
R f i
Urea
Base Oils
ReformingMethanol Methanol and
Methanol to Olefins
Polyethylene
Met
hane
Ethane, LPG and Condensate
Gas Separation Cracker
Polypropylene
Solvents
M Ethylene
PropyleneCondensate
Other
GTL FT based Other
Natural gas
Gas field
11
GTL value adds value adds
Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
continuously improving technology
C tCurrent design
Reactor capacity increasingCatalyst being improved
100 bbl/d 2 500 bbl/d 16 000 bbl/d 24 000 bbl/d 30 000+ bbl/d
Sasolburg Qatar Nigeria
1980s 1990s 2000s 2010s 2020s
Sasolburg Qatar Nigeria
12Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
commercial scale operational learning
13Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
world class product
• Clear, clean burning diesel and kerosene
• High cetane number, virtually sulphur and aromatics free
• Convenient and easy to use
• Can be used “pure” or as blend with conventional diesel/keroseneconventional diesel/kerosene
• Compatible with existing engine technology and distribution infrastructure
cleanclear
product
• Enables development of new generation internal combustion engine technologies with improved engine efficiency and furtherimproved engine efficiency and further reduction of tailpipe emissions
• Naphtha is an ideal cracker feedstock or dil t f il d
cleanclear
f
14Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
diluent for oil sands performance
demonstrated performance
First passenger flights in September 2010 on fully synthetic jet fuel
The US airforce has tested GTL fuel in B-52s and B-1BsIn 2006 a Toyota Hilux Raider drove from
15Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
In 2006, a Toyota Hilux Raider, drove from Johannesburg to Qatar on pure GTL diesel
environmental credibility
Emissions performance of GTL dieselEmissions performance of GTL diesel
50
75
100GTLbenefit
Local air quality benefits: High cetane number and very low levels of sulphur and aromatics
0
25
Carbon monoxide
Hydrocarbons NOx Particulates
e e s o su p u a d a o a csensure a more efficient and cleaner-burning combustion environment
Refinery diesel GTL diesel
Comparable CO2 budget:Greenhouse gas (GHG) impact, measured on a life cycle basis, is lower than that g ( ) p yof conventional diesel fuel, according to a recent peer-reviewed study published in Environmental Science and Technology.
16Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
Sasol - an integrated technology-driven company
GTL: a compelling value proposition
GTL: a new commercial reality
GTL: a bright future…
17Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
60 years of operating experience in South Africa
18
More than 1.6 billion barrels of high quality fuels from coal and gas
Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
up and running in Qatar… ORYX GTL
• Operating since 2007Operating since 2007
• Joint venture (Qatar Petroleum 51% and Sasol 49%)
• Design capacity = 32 400 bbl/d
• Product slate = ultra-low sulphur diesel, naphtha d LPGand LPG
• Stable operation at 80-90% capacity utilisation
A hi i 105% it tili ti• Achieving 105% capacity utilisation
• World class safety
19
Highly profitable venture with handsome returns to shareholders
Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
not far behind… Escravos GTL, Nigeria
• Under construction (completion expectedUnder construction (completion expected in 2013)
• Sasol, Chevron Nigeria Limited and Nigerian National Petroleum Company
• Design capacity = 33 200 bbl/dg p y
• Product slate = ultra-low sulphur diesel, naphtha and LPG
• ORYX GTL design
• Sasol technology and cobalt catalyst employedemployed
20Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
OLTIN YO’L GTL, Uzbekistan
• Uzbekneftegaz, Sasol and PETRONAS established a joint venture – December 2009
• E ti j i t FEED t d• Executing joint FEED study
• Targeting nominal plant capacity of 38 000 bbl/d38 000 bbl/d
• Product slate target – GTL diesel, GTL kerosene and GTL naphthakerosene and GTL naphtha
• The plant will be located near the town of Karshi in the southern part of Uzbekistan
• Gas feedstock from adjacent Shurtan
21Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
Gas Chemical Complex
developing opportunities elsewhere on the global stage…
New focus on North America
GTL project under development (Feasibility phase)GTL project under development (FEED phase)
22Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
p j p ( y p )Sasol affiliated plant operating or under construction
a new natural gas outlook for North America
800
600
700
800
shale gas has added 70 to 100 years resource life based on current US
400
500
me
(tcf)
production
200
300
Gas
vol
um
0
100
e s y r d y d tt h h r e s e r h
Hay
nesv
ille
Mar
cellu
s
Mon
tney
Hor
n R
ive
Eag
le F
ord
Cot
ton
Valle
y
Woo
dfor
d
Bar
net
Gra
nite
Was
h
Jona
h
Dee
p B
ossi
e
Faye
ttevi
lle
Nat
ural
But
tes
Pic
eanc
e
Bos
sie
Col
ony
Was
h
23
G N
source: IHS CERA 2010Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
robust feed and product drivers for GTL
Crude oil prices expressed as a multiple of natural gas prices
28
yhu
b High demand for transportation fuels and id diff ti l b t
16
20
24
iple
of h
enry
mB
tu/b
bl)
wide differential between gas and oil prices Forecast*
8
12
16
oil a
s a
mul
tis
pric
es (m
m
0
4
8
WTI
cru
de o
gas
01992 1995 1998 2001 2004 2007 2010 2013 2016 2019 2027
24
* Source: EIA
Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
sasol shale gas and GTL project in Canada
• Montney partnership
Farrell Creek and Cypress A
TLM land
BasinSasol/TLM land
• One of the most prolific shale plays in North America
• All year access and excellent infrastructureAlberta
Major pipeline
• All year access and excellent infrastructure
• Feasibility study underway
(target completion in the summer)
Alberta
(target completion in the summer)
BritishSource: Talisman 2011
BritishColombia
25Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
USA GTL - a first of a kind in North America
S l d ith f ibilit t d t• Sasol commenced with feasibility study to evaluate viability of GTL plant in Southwest Louisiana.
• Unlocking abundant natural gas resources and contributing to local economy with affordable, reliable and high quality fuel supply.
• Early in 2011, Sasol also commenced studies on ethylene cracker and derivatives project.
• Location is Sasol’s existing Lake Charles Chemical Complex
• Currently world’s first commercial ethyleneA value adding option to l k t l • Currently world’s first commercial ethylene
tetramerisation unit under construction at same site
unlock natural gas resources
26Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
Sasol - an integrated technology-driven company
GTL: a compelling value proposition
GTL: a new commercial reality
GTL: a bright future…
27Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
GTL – the planets aligned
• Leading edge, commercial technology that can b i l d i di l
p g
be implemented immediately
• Energy diversity and security
• Integrated value chain opportunities and synergies (upstream and chemicals)
Fl ibilit i t t ti f l i d t• Flexibility in transportation fuels industry• Fungible products that do not rely on
complex contractual chains• Commercial alternative to conventionalCommercial alternative to conventional
production of diesel and jet fuel• Superior quality fuels to meet stringent
specifications (Euro 5)
• Environmental footprint on par with modern, efficient petroleum refining, with scope to further improve
28Copyright @ 2012, Sasol New Business Development - CONFIDENTIAL
improve
Thank You
Jennifer Zeiss, General Manager , Sasol New Business Development ([email protected])