Bloomberg News

Repsol’s Canaport LNG Terminal Set to Receive Cargo This Week

October 04, 2011

Oct. 4 (Bloomberg) -- Repsol YPF SA’s Canaport liquefied- natural-gas terminal in Canada is to receive a cargo of the fuel Oct. 6, according to ship tracking data compiled by Bloomberg.

The vessel Madrid Spirit can carry as much as 135,423 cubic meters of LNG, or about 2.92 billion cubic feet. It’s bound for Canada after leaving Trinidad and Tobago, the data show.

Canaport, located in Saint John, New Brunswick, can put as much as 1.2 billion cubic feet a day of natural gas into regional pipelines, according to the company. Repsol, Spain’s largest oil producer, owns 75 percent of the terminal. Saint John-based Irving Oil Corp. owns 25 percent. Repsol has contracted for 100 percent of the capacity.

LNG is gas that is cooled to a liquid for transport by ship to markets not connected by pipelines. The fuel is received at import terminals and converted back to a gas.

--Editors: Charlotte Porter, David Marino

To contact the reporter on this story: Moming Zhou in New York at Mzhou29@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net.


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