Canaport LNG Terminal Advances Steadily

Yesterday’s Platts LNG Daily takes a detailed look at the 1 Bcf/d Canaport LNG terminal, a joint venture by Irving Oil and Repsol expected to start up by late 2009. According toPhillip Ribbeck, director of Repsol’s North American LNG operations, the New Brunswick-based project gained a competitive advantage over competing proposals by locking in certain construction costs last year before costs rose significantly. Ribbeck also believes Repsol’s positions throughout the supply chain will provide the US northeast and Canadian markets with the security of supply they desire, explaining, “They don’t want people in different parts of the value chain, where there could be interruptions.” [Subscription required]

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