Sasol Agrees on Second C$1.05 Billion Shale Gas Purchase

Sasol Ltd., the largest producer of motor fuels made from coal and gas, agreed to pay Talisman Energy Inc. C$1.05 billion ($1.08 billion) for a stake in the Cypress A project in Canada, the South African company’s second shale gas acquisition in less than three months.

The deal follows Sasol’s plan to expand its production base with the acquisition of natural gas assets, the Johannesburg-based company said in a statement today.