Chevron Is Boosting Its Commitment to Support This Key Energy Transfer Project
Energy Transfer (NYSE: ET) has spent the better part of the past decade working to turn its Lake Charles facility from a natural gas import terminal to a liquefied natural gas (LNG) export facility. It has faced several setbacks along the way, including losing its joint venture partner, Shell. Because of competition and market conditions, it has also struggled to secure enough commercial customers to support the facility. However, Lake Charles LNG is another step closer to becoming a reality after Chevron (NYSE: CVX) agreed to increase its volume commitment. That deal and other recent agreements put Energy Transfer within sight of finally making a final investment decision (FID) on this large-scale project.Image source: Getty Images.Continue reading
Energy Transfer (NYSE: ET) has spent the better part of the past decade working to turn its Lake Charles facility from a natural gas import terminal to a liquefied natural gas (LNG) export facility. It has faced several setbacks along the way, including losing its joint venture partner, Shell. Because of competition and market conditions, it has also struggled to secure enough commercial customers to support the facility.
However, Lake Charles LNG is another step closer to becoming a reality after Chevron (NYSE: CVX) agreed to increase its volume commitment. That deal and other recent agreements put Energy Transfer within sight of finally making a final investment decision (FID) on this large-scale project.
Image source: Getty Images.
