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Energy Transfer Halts LNG Project to Focus on Gas Pipelines
Company Announces Plans to Boost Size of Southwest US Gas PipelineÌýProject to Cope With Stronger-Than-Expected Demand
Billionaire Kelcy Warren’s Energy Transfer suspended development of a Louisiana liquefied natural gas export project to concentrate on building and expanding pipelines.Ìý
The abrupt halt to an LNG complex whose committed customers included energy giants Chevron Corp. and Shell caps a yearslong effort to flip an unused gas-import terminal constructed before the advent of the U.S. shale boom.Ìý
RELATED: Energy Transfer to Build $5.3 Billion Natural Gas Pipeline
The decision announced in a statement Dec. 18 signals a shift in the race to secure financing for gas-export projects in the U.S., already the world’s largest exporter of the fuel. In a separate statement, Energy Transfer announced plans to boost the size of aÌýsouthwest U.S. gas pipelineÌýproject to cope with stronger-than-expected demand.Ìý
Energy Transfer ranks No. 76 on the Transport Topics Top 100 list of the largest private companiesÌýin North America, and No. 14 on theÌýlist of petroleum/chemical carriers.
The Dallas-based pipeline company had previously shifted a formal investment decision on the LNG project to next year.
