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Shell suspends development of Canada’s Jumping Pound gas liquefaction unit

Screen Shot 2014-02-10 at 16.29.29Extracts from a Reuters article published Friday 18 July 2014

LONDON, July 18 (Reuters) – Royal Dutch Shell said it has suspended development of a liquefaction unit at Canada’s Jumping Pound facility…

“We believe LNG (liquefied natural gas) in transport is a considerable opportunity for Shell, but it is an emerging market and we must have a balanced approach to its development,” a company spokseman said. 

The shale gas production boom has pulled down natural gas prices in North America, making LNG competitive with oil in the transport sector, but development costs remain high.

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REUTERS ARTICLE

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