Energy Transfer and Shell agree to outline for advancing LNG export project

摘要

Uncertainty over Shell’s role in the Lake Charles LNG export terminal that has been proposed with Energy Transfer has been resolved, with a new framework that defines who will be in charge of construction and who will operate the project, the two partners said Monday in a statement. Differences with partner Shell about costs and other issues were cited as a sticking point by an Energy Transfer executive during a February investor conference call. With an agreement now reached on an outline for moving forward, the partners are preparing to solicit bids from potential construction contractors, the developers said in a joint statement. Energy Transfer most recently had been targeting a final investment decision during the first half of 2020. “The decision to make an affirmative FID to proceed with construction of the project will be subject to both companies’ assessment of the outcome of the EPC bidding process, overall project competitiveness and global LNG market conditions at the time of such decision,” the statement said.