Energy Transfer has suspended plans for a liquefied natural gas export terminal in southwestern Louisiana.
The Lake Charles LNG project is on hold, the Texas-based energy company announced Thursday.
“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 company said.
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Instead, the company plans to invest in the “significant backlog of natural gas pipeline infrastructure projects that Energy Transfer believes provides superior risk/return profiles.” Energy Transfer owns approximately 140,000 miles of pipelines.
