Shell pulls out of gas-to-liquids project in Gulf Coast

Reuters

Dec 5 (Reuters) - Royal Dutch Shell Plc said itwould not move forward with its proposed 140,000 barrel per dayGulf Coast gas-to-liquids (GTL) project in Louisiana, despiteample supplies of natural gas in the area.

Shell said it would suspend any future work on the projectas GTL was not currently a viable option in North America forthe company.

The company cited development costs and the uncertainty ofoil and gas prices in the long term as reasons for scrapping theproject.

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