{"id":11940,"date":"2012-06-29T00:02:18","date_gmt":"2012-06-28T22:02:18","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/update-1-talisman-opts-out-of-gas-to-liquids-jv-with-sasol\/"},"modified":"2012-06-29T00:02:18","modified_gmt":"2012-06-28T22:02:18","slug":"update-1-talisman-opts-out-of-gas-to-liquids-jv-with-sasol","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-talisman-opts-out-of-gas-to-liquids-jv-with-sasol\/","title":{"rendered":"UPDATE 1-Talisman opts out of gas-to-liquids JV with Sasol"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Plant was studied for Montney shale gas production<\/span><\/p>\n

<\/span><\/p>\n

* Talisman to focus on oil and liquids-rich gas assets<\/p>\n

<\/span><\/p>\n

* Shares jump 4 percent in Toronto<\/p>\n

<\/span><\/p>\n

CALGARY, Alberta, June 28 (Reuters) – Talisman Energy Inc
\n said on Thursday it decided not to develop a
\nmultibillion-dollar gas-to-liquids project in British Columbia
\nwith South Africa’s Sasol Ltd, saying it would
\nconcentrate instead on drilling for oil and gas liquids as
\nnatural gas markets stagnate.<\/p>\n

<\/span><\/p>\n

Talisman, Canada’s fifth-largest independent oil explorer,
\nand Sasol had been studying for more than a year the potential
\nfor such a venture to process gas from the Montney formation,
\nand had set mid-2012 as a target to make a decision.<\/p>\n

<\/span><\/p>\n

Such plants convert low-value natural gas into diesel or
\nother fuels that command much higher prices. It is one of
\nseveral ideas put forward by companies with massive shale gas
\nreserves in North America facing depressed prices.<\/p>\n

<\/span><\/p>\n

“Talisman’s immediate focus is to accelerate investment in
\nnear-term liquids opportunities, with the goal of increasing
\nliquids and oil-linked gas production to 300,000 barrels a day
\nby 2015,” Talisman Chief Executive John Manzoni said in a
\nstatement.<\/p>\n

<\/span><\/p>\n

The decision to opt out of the proposed plant, which could
\nhave cost as much as C$10 billion ($9.7 billion), came as no
\nsurprise, said Michael Dunn, analyst with FirstEnergy Capital
\nCorp.<\/p>\n

<\/span><\/p>\n

“We couldn’t figure out how they would go about funding it.
\nSubsequent to Sasol entering the deal with them, Sasol’s been
\npursuing a Gulf Coast GTL project,” Dunn said. “I was not
\nassuming that both of those would go ahead at the same time and
\nmy guess would be that the Gulf Coast one would be cheaper to
\nbuild.”
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Plant was studied for Montney shale gas production * Talisman to focus on oil and liquids-rich gas assets * Shares jump 4 percent in Toronto CALGARY, Alberta, June 28 (Reuters) – Talisman Energy Inc said on Thursday it decided not to develop a multibillion-dollar gas-to-liquids project in British Columbia with South Africa’s Sasol Ltd, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-11940","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=11940"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11940\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}