The National Energy Board (NEB) has given permission to Repsol to import liquefied natural gas (LNG) volumes into the Canaport regasification terminal in Saint John, which Repsol is building in partnership with Canadian oil refiner Irving Oil.
The terminal is expected to be ready by the end of 2008. Irving owns a 25% stake in the terminal, while Repsol owns 75%. Repsol had applied for a 25-year license to import 365 billion cubic feet of LNG per year into the Canaport terminal, with a scope to export around one billion cubic feet of gas to customers in the US, according to Reuters.
The NEB has stated that the import of LNG to the Canaport terminal would positively add to the supply of natural gas to North America, but turned down Repsol’s request to export Canadian natural gas.
