Shell Plans Exit From Proposed Lake Charles LNG Export Project
Shell announced that “[g]iven current market conditions . . . it will not proceed with an equity interest in the proposed Lake Charles LNG [export] project.” Energy Transfer will take over as the project developer. The press release states that “Lake Charles LNG is a proposed 50/50 project between Shell and Energy Transfer that seeks to convert Energy Transfer’s existing import terminal to an LNG export facility in Lake Charles, La. The project has a proposed liquefaction capacity of 16.45 mtpa for US natural gas export to global customers. According to a Reuters article, Energy Transfer “said it remains focused on the commercial development of Lake Charles and is working toward making an early 2021 final investment decision (FID) to build the plant. The company had anticipated making an FID in late 2020.