French Utility Delays Decision on Buying $7 Billion of U.S. LNG
- French government could block deal on pollution grounds
- NextDecade needs to add deals for LNG export project in Texas
Photographer: Cyril Marcilhacy/Bloomberg
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One of France’s biggest energy companies has delayed a decision on a $7 billion deal to import liquefied natural gas from the U.S. after pressure from the government in Paris to seek cleaner supplies of the fuel.
Engie SA said it has postponed work on a contract to take LNG from NextDecade Corp.’s operation, which is fed by shale gas fields using controversial fracking technology. The contract would run through 2045 and is key to launch construction of the U.S. firm’s Rio Grande LNG export terminal in Texas, according to the pressure group Les Amis de la Terre.