The U.S. liquified natural gas (LNG) developer Tellurian has withdrawn its application to build the Permian Global Access natural gas pipeline in Texas and Louisiana, according to Reuters. The company has reportedly made the decision due to dramatic drop in natural gas value that has occurred this year.
Tellurian said in the filing that “current market conditions do not support the economic thresholds to pursue the (Permian pipe) further at this time.”