Shell abandons plans for $20B Gulf Coast plant
Royal Dutch Shell said Thursday it is abandoning plans for a massive gas-to-liquids project envisioned for Louisiana, citing poor economics for the project that was expected to cost more than $20 billion.
The plant would have turned natural gas into diesel, jet fuel and other liquids, but the company determined that it would be too costly.
“Despite the ample supplies of natural gas in the area, the company has taken the decision that GTL is not a viable option for Shell in North America, at this time, due to the likely development cost of such a project, uncertainties on long-term oil and gas prices and differentials, and Shell’s strict capital discipline,” the company said in a statement.
Shell announced the potential site for the project in September, but said it was no sure thing as
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