Louisiana Economic Development Secretary Stephen Moret tells Daily Report that even if Sasol Ltd. decides not to move forward with its plans to build the nation’s first gas-to-liquids plant in Lake Charles, the state’s outlook for manufacturing investment “continues to be outstanding.”
“We anticipate well in excess of $62 billion in manufacturing investment will be completed in Louisiana whether or not Sasol completes its second phase,” Moret says in an email to Daily Report, noting the South African firm is moving forward with a first phase project in Lake Charles; an $8 billion ethane cracker. “Similarly we continue to expect the creation of more than 91,000 new jobs from projects announced since January 2008 even if the second phase of the Sasol project does not proceed.”
Sasol announced this morning that it’s delaying a decision on whether to build the GTL plant in Lake Charles. The project was announced by Sasol and Louisiana officials in late 2012, with subsequent estimates on its value ranging from $14 billion and $21 billion. The delay comes as the South African company announced plans to mitigate the impact of lower oil prices.
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