Shell Drops Plans For $12.5B La. Natural Gas Plant

Law360, Houston (December 5, 2013, 7:09 PM EST) -- Royal Dutch Shell PLC is pulling the plug on plans to build a gas-to-liquids plant in Louisiana after the project’s estimated costs soared from $12.5 billion to more than $20 billion, the company said Thursday.

The 140,000 barrel-per-day Gulf Coast GTL facility, which was tentatively slated to be built in eastern Louisiana, has become economically unfeasible for Shell at a time when the company is exercising “strict capital discipline,” according to the company. Shell said Thursday that it is immediately suspending all work on the project....
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