ConocoPhillips to exit Freeport LNG

摘要

US independent ConocoPhillips will relinquish its 50pc managing interest in the Freeport LNG plant in Texas once the project receives all regulatory approvals for exports and is financed. ConocoPhillips does not own equity or capacity at the terminal, which started up in 2008 to import LNG. ConocoPhillips owns a refinery near Freeport and financed construction of the import facility because it expected the US would become a major LNG importer. But that was before the shale gas boom was evident.