Royal Dutch Shell plc suspends Gulf Coast gas-to-liquids project in Louisiana

Shell exits GTL project in Louisiana, US

11:27 AM, 6th December 2013
Royal Dutch Shell business news
Peter Voser, CEO, Shell.

PARIS, FRANCE: Royal Dutch Shell plc will not move forward with the proposed 140,000 barrels per day Gulf Coast gas-to-liquids (GTL) project in Louisiana and will suspend any further work on the project. Shell is the industry leader in GTL technology, and the company has carefully evaluated a number of development options for GTL on the US Gulf Coast, using natural gas feedstocks.

Despite the ample supplies of natural gas in the area, the company has taken the decision that GTL is not a viable option for Shell in North America, at this time, due to the likely development cost of such a project, uncertainties on long-term oil and gas prices and differentials, and Shell’s strict capital discipline.

“We are making tough choices here, focusing our efforts and capital on the most attractive opportunities in our world-wide portfolio, to add value for shareholders,” said Peter Voser, CEO, Shell.

 

© Worldofchemicals News  

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Amyris, Total JV for renewable diesel and jet fuel

PARIS, FRANCE: Amyris and Total have formed Total Amyris BioSolutions, a 50-50 joint venture that holds exclusive rights and a license under Amyris&rs ...

Read more
BASF to sell PVC modifier business to Kaneka

LUDWIGSHAFEN, GERMANY: BASF has signed a contract to sell its Vinuran PVC modifier business to Kaneka Belgium NV, a subsidiary of Kaneka Corporation, ...

Read more
Bayer acquires Argentinian seed company

MONHEIM, GERMANY: Bayer CropScience has entered into an agreement to purchase the start-up company FN Semillas SA based in Buenos Aires, Argentina. FN ...

Read more
New technique to predict chemical dissolution

TEXAS, US: New research at Rice University and the University of Bremen’s Centre for Marine Environmental Sciences (MARUM) in Germany have found ...

Read more
Air Liquide bags ultra-pure carrier gases supply contract in Beijing, China

BEIJING, CHINA: Air Liquide has been awarded a major long-term contract in China by Semiconductor Manufacturing International Corporation (SMIC) to su ...

Read more
Sahara, Sipchem sign merger agreement

RIYADH, SAUDI ARABIA: Saudi Arabia’s Sahara Petrochemical and Saudi International Petrochemical Co (Sipchem) have signed a memorandum of underst ...

Read more