Sasol Receives Best Corporate Taxpayer Award in Mozambique for Second Time

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MAPUTO, Mozambique, March 30, 2017 /PRNewswire/ --

Sasol Petroleum Temane (SPT) received the award for Best Corporate Taxpayer for 2016 at the Mozambique's Tax Authority's annual event held on 22 March 2017.

The event acknowledged various corporate companies who received certificates of recognition from the Tax Authority Chairperson Amelia Nakhare. This is the second year that SPT has been presented with the award, having received the same award in 2015.

At the event, the Republic of Mozambique Pipeline Company (ROMPCO) received first place in the IRPC (corporate income tax) payable on profit category, ROMPCO is a joint venture between Sasol, Companhia Mocambiçana de Gasoduto S.A (CMG), and South African Gas Development Company (SOC) Limited (iGas).

Additionally, Central Térmica de Ressano Garcia (CTRG) was awarded first prize in the overall best tax payer in the medium tax payers' group. The CTRG power plant is a partnership between the Mozambican state power utility, Electridade de Mozambique (EDM) - EDM holds (51%) and Sasol (49%) currently producing 175MW which benefits two million Mozambicans.

"We are honoured to have received this acknowledgement from the Mozambican Tax Authority and are proud to have played a pioneering role in the development of the country's gas industry," said Peter Manoogian, Acting Senior Vice President: Exploration and Production International at Sasol.

"Mozambique lies at the center of our growth strategy for Southern Africa, we remain resolute in nurturing our investments in the country and partnering with the Mozambican government and other stakeholders to help stimulate growth to improve the quality of life of Mozambicans," he concluded.

Sasol's commitment to Mozambique began well over a decade ago when, together with its partners, Companhia Moçambicana de Hidrocarbonetos CMH and the International Finance Corporation (IFC) developed the Pande/Temane natural gas project. This project pioneered the monetisation of the Pande and Temane gas fields which had been effectively 'stranded' for over 30 years.

To date, more than $1 billion was delivered to the government of Mozambique. This includes corporate taxes, royalties and social investments, as well as profit share and dividends paid out to state-owned entities by the upstream gas processing and midstream gas transportation projects.

About Sasol:

Sasol is an international integrated chemicals and energy company that leverages the expertise of our 30 100 people working in 33 countries. We develop and commercialise technologies, and build and operate world-scale facilities to produce a range of high-value product streams, including liquid fuels, chemicals and low-carbon electricity.

SOURCE Sasol Limited