From the Stock Exchange News Service:Â Â
Sasol announced today that Stephan Schoeman, the Group Executive Committee (GEC) member responsible for, among others, Sasol’s Lake Charles Chemicals Project in Louisiana in the United States (LCCP), will be retiring from the company after 30 years of service.
Stephan joined Sasol in 1989 and has held various management positions in Sasol. He played a key role in the international expansion strategy when he was placed in Hong Kong and Germany. He served served as Managing Director of Sasol Infrachem from 2009 and was appointed Managing Director of Sasol Synfuels in 2011.
In 2014, he was appointed to the GEC as Executive Vice President (EVP): Technology. In 2016, Stephan took on responsibility for the Lake Charles project and has since been instrumental in overseeing the engineering and construction works of the new plant.
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With effect from 1 April 2019, project accountabilities for Lake Charles will report to Fleetwood Grobler in his capacity as EVP: Chemicals Business. The commissioning and operations of the LCCP already report to Mr Bernard Klingenberg, who is the EVP responsible for Sasol operations globally.
As announced on 8 February 2019, engineering and procurement activities were 94% complete at the end of December 2018, and construction progress was at 84%.
Key project metrics:
- Total project normalised output: 1,77 mtpa
- Ethane consumption: 100 000 bpd
- Ethylene production: 1,54 mtpa
- First unit (LLDPE) beneficial operation:Â February 2019
- Last unit (Guerbet) beneficial operation: January 2020
- Capex spent to 31 December 2018: $10.9bn
- Overall project completion 94%
- Construction completion 84%
- Total project capex: $11.6–11.8bn
- EBITDA expected in FY22: $1.3bn
