Shell Cuts Deal to Buy LNG from La. Facility it Previously Dumped

Talk about irony! Scared of the potential impacts of the coronavirus and with the price of oil crashing in March 2020 (just as COVID was getting started), Royal Dutch Shell pulled out of a 50/50 joint venture partnership with Energy Transfer (ET) to build a new LNG export facility in Lake Charles, Louisiana (see Shell Pulls Out of Lake Charles LNG Project, Energy Transfer Stays). In an announcement issued yesterday, ET said it had cut a deal with its old partner to sell them 2.1 million tonnes (MT) of LNG per year from the Lake Charles facility when the facility gets up and running in 2026. Shell must be kicking itself...

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