News Post
Energy Transfer takes over development of the Lake Charles LNG export project
Energy Transfer recently announced that it will take over the development of the Lake Charles LNG export project in Lake Charles, Louisiana as Shell has plans to leave the 50/50 joint venture. The current market conditions depressed by the pandemic effect is cited as the reason for Shell’s decision.
The Lake Charles LNG is also considered by Energy Transfer to scale down from a three-train, 16.45 MMtpy project to a two-train 11 MMtpy plan. Shell is expected to support Energy Transfer with the bidding process currently ongoing for an engineering, procurement, and construction contract. Shell entered the Lake Charles LNG venture in 2016, and this exit comes after the company’s recent announcement to reduce its 2020 capital expenditure from $25 million down to $20 billion.
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