Energy Transfer (NYSE:ET) has pushed back its targeted final investment decision for the proposed Lake Charles liquefied natural gas export project in Louisiana to Q1 2026 from the end of this year, due to rising costs and the need for more time to finalize contracts, Bloomberg reported Wednesday.
The company has planned for years to expand the existing LNG import terminal at Lake Charles into an export plant with a total capacity of 16.5 million metric tons/year.
Chevron, China’s ENN Energy, and South Korea’s SK Gas Trading are among the companies that have signed long-term deals to buy LNG from Lake Charles.
Earlier this month, Bloomberg reported that Energy Transfer (NYSE:ET) was nearing an agreement to sell LNG from Lake Charles to EIG Global Energy Partners subsidiary MidOcean Energy.