Oil giant Royal Dutch Shell PLC (RDSA.LN) said Thursday that it will not proceed with a proposed gas-to-liquids project in Louisiana due to the likely development costs and uncertainties over long-term oil and gas prices. Shell said in September that it had selected a site south of Baton Rouge for a potential multibillion-dollar project to convert natural gas into liquid fuels, such as diesel and gasoline. “We are making tough choices here, focusing our efforts and capital on the most attractive opportunities in our worldwide portfolio to add value for shareholders,” said Chief Executive Peter Voser Thursday. Shares closed Thursday in London at 2,104 pence, valuing the company at GBP77.81 billion. -Write to Rory Gallivan at [email protected]; Twitter: @RoryGallivan