French power utility Engie pulls out of U.S. LNG deal

French gas and power utility Engie has pulled out of a major U.S. liquefied natural gas (LNG) import deal after government concerns about its environmental implications. Late last month the French government had asked Engie to hold off from signing the deal with NextDecade Corp amid growing scrutiny of the effects of shale gas extraction methods such as fracking and their impact on climate change through methane emissions. The contract, estimated to be worth $7 billion was for the import of shale gas via a Texas-based terminal as part of a project called Rio Grande LNG.

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