Shell exits proposed Lake Charles LNG project
Published by David Rowlands,
Editor
LNG Industry,
Accordingly, Energy Transfer will take over as the project developer. In the statement, Shell claims that it will continue to support Energy Transfer with the ongoing bidding process for the engineering, procurement and construction (EPC) contract, and then a phased handover of the project’s remaining activities.
Lake Charles LNG is a proposed 50:50 project between Shell and Energy Transfer that aims to convert Energy Transfer’s existing import terminal into an LNG export plant in Lake Charles, Louisiana. It has a proposed liquefaction capacity of 16.45 million tpy.
Maarten Wetselaar, Director, Integrated Gas and New Energies, Shell, said: “This decision is consistent with the initiatives we announced last week to preserve cash and reinforce the resilience of our business.
“Whilst we continue to believe in the long-term viability and advantages of the project, the time is not right for Shell to invest. Through the transition, we will work closely with Energy Transfer.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/31032020/shell-exits-proposed-lake-charles-lng-project/
You might also like
Bluepoint Wind and Golden State Wind sign agreements with Interior
Bluepoint Wind and Golden State Wind have each separately signed an agreement with the Department of the Interior to voluntarily end their offshore wind leases, with the respective affiliate companies agreeing to make financial investments in LNG projects.