Shell to Exit Lake Charles LNG Project

Royal Dutch Shell said on Monday it will exit the Lake Charles liquefied natural gas export project in Louisiana, citing the plunge in oil prices due to the coronavirus pandemic.

The project is a 50-50 venture with U.S. midstream company Energy Transfer, which said in a separate statement it will take over development of the project.

(Reporting by Shradha Singh in Bengaluru; Editing by Aditya Soni)