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....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.