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

Thu Dec 5, 2013 1:14pm EST

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

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

The company cited development costs and the uncertainty of oil and gas prices in the long term as reasons for scrapping the project.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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