Shell is scrapping its proposed massive gas-to-liquids project on the U.S. Gulf Coast, the company said. The Shell facility, to be located along the Mississippi River in Ascension Parish, La., was to produce 140,000 barrels a day of oil products from low-cost shale gas. “Despite the ample supplies of natural gas in the area, the company has taken the decision that GTL is not a viable option for Shell in North America, at this time, due to the likely development cost of such a project, uncertainties on long-term oil and gas prices and differentials, and Shell’s strict capital discipline,” the company said Thursday in a statement. When Shell and the state of Louisiana announced the location for the proposed facility in September, Shell estimated it would spend $12.5 billion. The state had offered an incentive package for the project that included a […]