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Weekend Argus (Saturday Edition) - - BUSINESS -

Shell dumps plans for GTL plant in US

LON­DON: Royal Dutch Shell has dropped plans to build a US fa­cil­ity to con­vert nat­u­ral gas into diesel and other fu­els, cit­ing high costs.

“Shell… an­nounces that the com­pany will not move for­ward with the pro­posed 140 000 bar­rels per day Gulf Coast gasto-liq­uids (GTL) project in Louisiana and will sus­pend any fur­ther work on the project,” it said late on Thurs­day.

The group added: “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 longterm oil and gas prices and dif­fer­en­tials, and Shell’s strict cap­i­tal dis­ci­pline.”

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