Canada’s Canaport LNG terminal gets new name after Repsol deal with Irving Oil

Spanish energy firm Repsol has renamed the Canaport LNG import facility in Canada after it purchased Irving Oil’s stake in the plant.

Earlier this year, Canada’s Irving Oil sold its 25 percent ownership interest in Canaport LNG to Repsol.

Over the past number of months, the two firms have been working together to finalize this transaction.

Repsol said in a statement on Monday it has completed the acquisition of 100 percent ownership of the LNG terminal and revealed a new name for the facility.

“The terminal will be renamed Saint John LNG to mark the transition to new ownership, which aims to continue serving Repsol’s customers in Atlantic Canada and the US Northeast while looking at future developments aligned with its strategy to achieve zero net emissions by 2050,” it said.

As sole owner of Saint John LNG, Repsol “gains flexibility and control of the operations to optimize the efficiency and value of the facility.”

“It also positions Repsol to explore new opportunities to help meet market demand and to support the energy transition,” the firm said.

Canada’s first receiving and regasification terminal is located in Saint John, New Brunswick.

Launched in 2009, the facility has a maximum send-out capacity of 1.2 billion cubic feet or 28 million cubic meters of natural gas per day.

In addition, it also has three storage tanks with each having a capacity of 3.3 billion cubic feet, according to its website.

Repsol had previously planned to convert the facility to export LNG but the plan did not proceed due to a lack of interest from off-takers and investors.

- Advertisements -

Most Popular

ExxonMobil working on larger Rovuma LNG export project in Mozambique

US energy giant ExxonMobil has boosted the capacity of the planned Rovuma LNG onshore terminal in Mozambique and is...

Sempra takes FID on Port Arthur LNG project

US LNG player Sempra Infrastructure, a unit of Sempra, has taken a final investment decision for the first phase...

Excelerate to buy FSRU from Maran Gas

US floating LNG player Excelerate Energy plans to exercise an option to buy the 2020-built FSRU Sequoia from Greece’s...

More News Like This

Repsol drops Canadian LNG export plans

Spanish energy firm Repsol has scrapped its plans to export LNG from its existing Saint John LNG import terminal...

Repsol gets more time for Canadian LNG export plans

Spanish energy firm Repsol has secured a license extension to export LNG from its existing Saint John LNG import...

Spain’s Repsol to open second LNG bunkering terminal in 2023

Spain's Repsol is working to launch its second liquefied natural gas (LNG) bunkering terminal to supply vessels operated by...

CEO: Repsol in talks to export Canadian LNG to Europe

Spanish energy firm Repsol has confirmed that it is in negotiations to add liquefaction units at its existing Saint...