Shell Halts $20 Billion Gas-to-Liquids Project in Louisiana
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Royal Dutch Shell Plc, Europe’s biggest oil company, halted plans to build a $20 billion gas-to-liquids plant in Louisiana, citing the potential cost and uncertainty about future crude and natural gas prices.
The project would have used natural gas to produce 140,000 barrels a day of liquid fuels and other products normally made from oil, The Hague-based company said in a statement today. Despite ample U.S. gas supplies from a boom in shale production, gas-to-liquids isn’t “a viable option for Shell in North America,” the company said.