Energy Transfer is ditching its global export dreams to double down on America’s grid. (Reuters)
The pipeline giant suspended its massive Lake Charles LNG export terminal in Louisiana, effectively admitting the global gas market is looking too crowded and risky to justify the billions in construction costs.
Instead, it’s pouring $5.6B into super-sizing its Desert Southwest pipeline, expanding the pipe to a massive 48 inches to flood Arizona and California with cheap Texas gas.
The bottom line: Executives see more profit in fueling the domestic AI boom and replacing dying coal plants in the West than in chasing volatile international buyers.