Energy Transfer to move forward with Louisiana LNG project without Shell

Royal Dutch Shell’s plans to reduce 2020 capital spending by billions of dollars include dropping out of a proposed liquefied natural gas export project.

Houston-based Shell US LNG LLC, a wholly owned subsidiary of the Netherlands-based Royal Dutch Shell (NYSE: RDS-A, RDS-B), and Dallas-based pipeline giant Energy Transfer (NYSE: ET) signed a framework agreement for the proposed project in May 2019. Plans for the project call for converting Energy Transfer’s existing import terminal in Lake Charles,…