VOL. XLV

No 30

29-July-2002

QATAR

Goldman Sachs Identify Major GTL Risks

There are three major risksassociated with the development of a synthetic fuels industry based ongas-to-liquids (GTL) technology, according to a Goldman Sachs Global EquityResearch report on South Africas Sasol.The first risk is that although fixed costs have come down almost 30% over thelast 20 years, they are still high. Currently, we use $25,000/B as aconstruction cost, which is in line with guidance from Sasoland other...