Energy Transfer Suspends LNG Project
Billionaire Kelcy Warren’s Energy Transfer LP suspended development of a Louisiana liquefied natural gas export project to concentrate on building and expanding pipelines.
The abrupt halt to an LNG complex whose committed customers included energy giants Chevron Corp. and Shell Plc caps a years-long effort to flip an unused gas-import terminal constructed before the advent of the US shale boom.
The decision announced in a statement Thursday signals a shift in the race to secure financing for gas-export projects in the US, already the world’s largest exporter of the fuel. In a separate statement, Energy Transfer announced plans to boost the size of a planned US Southwest gas pipeline to cope with stronger-than-expected demand.
The Dallas-based pipeline company had previously shifted a formal investment decision on the LNG project to next year.
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