 |
||||||||||
 |
 |
 |
 |
 |
 |
 |
||||
 |
||||||||||
 |
||||||||||
| Canadian National Energy Board Appoves Repsol’s Application for Long-term LNG Import/Natural Gas Export Licenses The National Energy Board (NEB) of Canada granted Repsol a long-term license to import Liquid Natural Gas and export gas. The decision grants Repsol a 25 year license to import up to 370 billion cubic feet (bcf) equivalent of LNG and export up to 1 bcf of natural gas per day. While Repsol is still reviewing the decision, it is clear that all of the major provisions that Repsol requested in its application would be granted under the NEB decision. This decision is based on a Repsol application that was submitted in December of 2007. “We’re pleased that the NEB concluded that this new source of natural gas supply will be a very beneficial resource for energy markets in Canada and the Northeast U.S.,” said Phil Ribbeck, President of both Repsol Energy Canada Ltd. and Repsol Energy North America Corporation. The Canaport LNG terminal is a land-based LNG receiving and regasification terminal located in Saint John, New Brunswick. Repsol has contracted for 100% of the capacity in the Canaport LNG facility. The construction of the Canaport terminal is one of the ten key projects in Repsol´s 2008-2012 Strategic Plan, which aims to almost treble profit at the company in the period by growing the global LNG business, boosting refining capacity and increasing oil production. |
||||||||||
 |
||||||||||
| Back to the Press Room Home Page | ||||||||||