Societe Generale Explains Why It Pulls Out Of Rio Grande LNG Project

Next Decade's Rio Grande LNG project in Texas has seen a few delays. Delays which now could be explained by the fact that the project's financial advisor, Societe Generale, pulled out of the project early last year, it has now been revealed. SocGen revealed for the first time on Tuesday why it pulled out of the Texas LNG project last year, Reuters said.

While the bank did not go into details about why it has pulled out of the project, a SocGen spokesperson referenced its climate commitments, which call for an end of all LNG financing when the project…