Talisman Energy exits Sasol GTL project

Talisman Energy has decided not to proceed with the upcoming phase of Sasol Canada’s GTL (gas-to-liquids) facility project, after participating in a feasibility study for the project. As part of the ongoing partnership between Talisman and Sasol that includes two 50% working interests in two natural gas assets and associated infrastructure in Talisman’s Montney shale resources in northeastern British Columbia, Talisman was granted the option to participate in the feasibility study.
Talisman President and Chief Executive Officer, John A. Manzoni said, “After careful consideration, we have concluded that there are better ways to allocate capital in support of our strategy. Talisman’s immediate focus is to accelerate investment in near-term liquids opportunities, with the goal of increasinf liquids and oil-linked gas production to 300,000 barrels a day by 2015. We wish Sasol every success as they evaluate the next phase of this project, and we look forward to continuing a positive relationship in the joint development of our Montney assets.
The upstream partnership will not be impacted by Talisman’s decision to exit the GTL project.
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