Shell has pulled out of a major US LNG project to convert an existing import terminal in Lake Charles, Louisiana to an export facility, citing “current market conditions”.
Lake Charles LNG is a 50-50 venture with Energy Transfer, who will now take over as the project developer, Shell said in a statement.
Shell said it will continue to support Energy Transfer with the ongoing bidding process for the engineering, procurement, and construction contract and then plan a phased handover of the project’s remaining activities.
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