Repsol | About Repsol Energy Canada (REC)

Repsol Energy Canada Marketing News

Repsol is involved with numerous other countries in the development of LNG projects. In North America, Repsol holds significant acreage in the Gulf of Mexico basin from which it currently produces and markets natural gas.

Repsol has an equity position and LNG off take agreements from Trinidad and Tobago. in addition Repsol has off take rights from the new development in Peru, which can also be used to serve Canaport™. Repsol is also currently involved in discussions with other suppliers about purchasing volumes for delivery to Canaport™.

Repsol has access to supplies to ensure that we can serve our firm commitments downstream of the Canaport™ Terminal.

Repsol Energy Canada (REC) Enters Into LNG Contracts

REC has entered into a 25 year contract to purchase up to 1000 MDTH/day (gas equivalent) of LNG from an affiliated company at the Canaport™ LNG terminal

REC has entered into a 25 year contract with Canaport™ LNG for 1000 MDTH/day (100%) of regasification capacity at the Canaport™ LNG terminal

REC has entered into a 25 year contract with Brunswick Pipeline for 100% of the firm transportation capacity (850 MDTH/day) from the Canaport™ LNG terminal to an interconnect with Maritimes & Northeast Pipeline (M&NP) at the US/Canada border

Due to its presence in exploration and production around the world, Repsol is exposed to numerous opportunities related to LNG projects worldwide. Repsol holds equity in Atlantic LNG Company of Trinidad/Tobago’s four liquefaction trains which currently produce 2 BCF of natural gas daily. Repsol also holds equity in the Peru LNG project which will commence production in the third quarter of 2010.

The fleet of 13 tankers managed by Repsol-Gas Natural LNG S.L. enhances the security of delivery of Repsol’s LNG supplies from its supply sources, including Trinidad and Tobago, to its markets. Additional ships will be added to the fleet over the next few years and beyond.
Repsol-Gas Natural LNG, S.L. is a company created in 2005 by Repsol (50%) and GAS NATURAL (50%) to manage the logistics of Repsol’s and Gas Natural’s LNG supplies.

Repsol has been involved in many aspects of the development of Spanish LNG receiving terminals and is now an equity owner in the Bilbao, Spain LNG facility. Repsol is now to applying this experience at the new Canaport™ LNG terminal in New Brunswick, Canada, the first such facility to be built on the east coast of North America in over three decades. Canaport™ will have 1 BCF per day of firm sendout capacity, 100% of which is contracted by Repsol.

Through its subsidiaries, Repsol Energy Canada (REC) and Repsol Energy North America (RENA), Repsol provides full service gas trading and origination to wholesale gas markets in Canada and the US. Both REC and RENA are actively negotiating natural gas sales contracts with wholesale customers in Maritimes Canada and the Northeast US, respectively.