Shell has begun a phased exit of the Energy Transfer Lake Charles LNG project, citing current market conditions.
The two firms had entered into a project framework agreement last March, in which the companies agreed to share the costs of developing the LNG project, the cost of which was not disclosed. Lake Charles LNG is a proposed 50/50 project between Shell and Energy Transfer that would convert Energy Transfer’s existing import terminal to an LNG export facility in Lake Charles, La.