Annual Financial Statements for the year ended 30 June 2021 0 - Book - Page 103
% of equity owned
Name
Country of incorporation
Nature of activities
Louisiana Integrated
Polyethylene JV LLC¹
Gemini HDPE LLC²
United States of America
Sasol Canada³
Canada
Natref
South Africa
Manufactures high density polyethylene
chemicals
Manufactures high density polyethylene
chemicals
Development of shale gas reserves and
production and marketing of shale gas
Refining of crude oil
United States of America
2021
%
2020
%
50
–
–
50
50
50
64
64
1 Upon successful completion of the divestment of 50% of Sasol’s commodity chemicals units at our Lake Charles facility in December 2020, the 50/50
Louisiana Integrated Polyethylene joint venture (“JV”) with LyondellBasell was established. LyondellBasell operates the JV assets on behalf of the JV.
The joint operation operates as a tolling arrangement and Sasol retains control to the goods during the toll processing, for which a fee is paid, and
only recognises revenue when the finished goods are transferred to a final customer. Sasol and Equistar, a subsidiary of LyondellBasell, have entered
into a marketing agreement pursuant to which Equistar is appointed as an independent agent to exclusively market and sell, in consideration for a
fee, all of Sasol’s Linear low-density polyethylene (LLDPE) and Low-density polyethylene (LDPE) produced by the joint operation to customers.
2 The Group sold it's investment in Gemini HDPE LLC on 31 December 2020.
3 The Group has classified the assets and liabilities of the Canada joint operation as held for sale at 30 June 2021. The disposal subsequently closed on
29 July 2021. Refer to note 12.
The information provided is Sasol's share of joint operations (excluding unincorporated joint operations) and includes intercompany
transactions and balances.
Total
Total
Other**
Rm
2021
Rm
2020
Rm
3 421
319
1
–
2 509
1
30 647
4 872
2
12 917
1 682
40
1 379
3 741
2 510
35 521
14 639
27 484
62
38
187
120
478
–
–
901
–
360
2 457
184
414
326
432
3
3
1 105
967
28 754
2 522
225
2 607
1 413
3 614
9 224
764
557
480
27 891
1 379
3 741
2 510
35 521
14 639
Louisiana
Integrated
Polyethylene
JV LLC
Rm
Sasol
Canada*
Rm
Natref
Rm
External non-current assets
External current assets
Intercompany current assets
27 226
665
–
–
1 379
–
Total assets
27 891
Shareholders’ equity
Long-term liabilities
Interest-bearing current liabilities
Non-interest-bearing current liabilities
Intercompany current liabilities
Total equity and liabilities
for the year ended 30 June
SASOL LIMITED GROUP
CONSOLIDATED FINANCIAL STATEMENTS
At 30 June, the group's interest in material joint operations were:
NOTES TO THE FINANCIAL STATEMENTS
23 Interest in joint operations
* The Group has classified the assets and liabilities of the Canada joint operation as held for sale at 30 June 2021. The disposal subsequently closed on
29 July 2021. Refer to note 12.
** Includes Central Térmica de Ressano Garcia (CTRG), which has been classified as held for sale at 30 June 2021. Refer to note 12.
SASOL LIMITED COMPANY
Statement of financial position
OTHER
At 30 June 2021, the group’s share of the total capital commitments of joint operations amounted to R717 million (2020 –
R700 million).
101
Sasol Annual Financial Statements 2021