first_imgShell pulls out of planned Lake Charles LNG export project in Louisiana FacebookTwitterLinkedInEmailPrint分享Reuters:Royal Dutch Shell Plc pulled out of a major liquefied natural gas (LNG) export plant under development in Louisiana following the recent crash in oil and natural gas prices, in a move that resulted in its partner, Energy Transfer LP, delaying their final decision on going ahead with the project to next year.Lake Charles is one of several LNG export projects based around the world that have been delayed in recent months by the collapse in global energy prices. Global LNG demand has been hitting new record highs for years, thanks to big demand from Asian nations like China and India as they diversify away from dirtier coal power generation.However, the crash in oil and gas prices has caused major LNG exporters like Qatar and oil giant ExxonMobil Corp to put off gigantic new facilities or expansions of existing projects. U.S. gas prices have recently dropped to their lowest since 1995.“It’s telling that (Shell) a major would walk away from a major outlet for long-term gas supply,” said Ira Joseph, head of global gas and power analytics at S&P Global Platts, noting that storage, port and pipeline work was already in place on the project.Analysts have anticipated that a number of the projects under development worldwide would not come to fruition. In total, U.S. energy firms alone are developing over 50 billion cubic feet per day (bcfd) of new export capacity – more than all the worldwide consumption of LNG in 2019, which was about 46.3 bcfd, according to Refinitiv Eikon data.The Lake Charles project, one of a number of large LNG facilities planned in the wake of the U.S. shale boom, envisaged converting Energy Transfer’s existing import and regasification facility into a 2.2-bcfd export facility. Energy Transfer said it expects to make a final investment decision by early 2021 on whether to build the plant, a delay from its earlier timeline for a decision by late 2020.[Scott DiSavino, Shradha Singh]More: Shell drops out of major U.S. LNG project, Energy Transfer delays decisionlast_img