Sasol Considers Sale of Papua New Guinea Gas Assets, Iran Stake

Sasol Ltd. (SOL), the world’s largest maker of fuel from coal, is considering the sale of its gas assets in the island-state of Papua New Guinea.

“Sasol is considering divesting from Papua New Guinea,” Alex Anderson, a spokesman, said in an e-mailed response to questions. “We are currently engaging interested parties.” The Johannesburg-based company started exploring for natural gas in Papua New Guinea during 2008.

Sasol is also in discussions to sell its 50 percent-stake in Iranian unit Arya Sasol Polymer Co. which it co-owns with Pars Petrochemical Co. of Iran, a unit of National Petrochemical. Sasol wrote down the unit’s value by 1.97 billion rand ($215 million) for the six months through December.

The U.S. and the European Union are pressuring Iran to end its nuclear program, which they say is aimed at developing an atomic weapon. Iran denies it is trying to make military devices, saying its nuclear research is for civilian use.

To contact the reporter on this story: Jaco Visser in Johannesburg at avisser3@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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