Energy Transfer LP announced that it is suspending development of the Lake Charles LNG project in order to focus on allocating capital to its significant backlog of natural gas pipeline infrastructure projects that Energy Transfer believes provide superior risk/return profiles.
Energy Transfer management has determined that its continued development of the project is not warranted by Energy Transfer but remains open to discussions with third parties who may have an interest in developing the project.
The Lake Charles LNG project was a large-scale energy infrastructure initiative in Lake Charles, Louisiana, owned by Energy Transfer LP. For over a decade, the company has sought to convert its existing LNG import terminal into an export facility capable of liquefying and shipping natural gas to global markets.
