Energy Transfer Announces Restructuring of Lake Charles LNG Project
Energy Transfer LP Common Units (ET)
Last energy transfer lp common units earnings: 2/19 04:10 pm
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Source: Business Wire
Energy Transfer to Take Over as Project Developer as Shell Exits the Project Due to Current Market Conditions DALLAS--(BUSINESS WIRE)--Energy Transfer LP (NYSE: ET) announced today that it will take over development of the Lake Charles LNG export project following Shell’s announcement that it has decided not to proceed with an equity investment in the project. Shell advised Energy Transfer that its decision was made in light of current market conditions. Energy Transfer will take over the role of lead project developer and will continue the development of the project. In this regard, Energy Transfer will evaluate various alternatives to advance the project, including the possibility of bringing in one or more equity partners and reducing the size of the project from three trains (16.45 mtpa of LNG capacity) to two trains (11.0 mtpa).“We continue to believe that Lake Charles is the most competitive and credible LNG project on the Gulf Coast,” said Tom Mason, Executive Vice President
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