Spanish Repsol is looking for partners to invest $4 billion to start exporting natural gas from North America to Europe.
Repsol plans to build a plant with the capacity of 5 mmtpa of LNG at its Canaport terminal in New Brunswick, Canada in order to meet Europe’s demands for gas, Reuters informs.
The plant would liquefy US shale gas, and Repsol as a minority partner would take advantage of the existing Canaport facilities, and ship gas to Europe that is looking for safer and more competitive sources.
According to Reuters, Repsol, that is investigating the feasibility of the project, would only go ahead with the plans if partners take on the bulk of the investment.
LNG World News Staff; Image: Canaport