Repsol to Enter Downstream Operations Through Canaport LNG Terminal

World Gas Intelligence reports on Repsol’s plans to participate in all facets of the LNG value chain. While the Spanish energy company initially focused its LNG business on the upstream supply and liquefaction side, it is developing its regasification presence through the Canaport LNG terminal in New Brunswick, Canada. Phil Ribbeck, Repsol’s director of North American LNG projects, noted the significant increase in construction costs in 2006, underscoring the economic benefits the company realized by entering into Canaport’s construction contracts in December 2005. Construction on the joint venture with Irving Oil is slated for completion in 2008. [Subscription required]

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