Repsol Completes Acquisition Of Saint John LNG Terminal
SAINT JOHN – The Canaport LNG facility in Saint John is now fully owned by Spanish energy and petrochemical company Repsol SA.
Repsol announced November 15 it had completed the acquisition of 100 percent ownership of the terminal.
With the ownership change also comes a name change. Canaport LNG will now be known simply as Saint John LNG.
“Operations are continuing as normal, and we look forward to showing you our new look soon,” said a tweet shared on Canaport LNG’s Twitter account.
Irving Oil announced in August it was divesting its 25 percent ownership interest in the LNG facility to Repsol, which was already the majority owner.
The company said in a statement at the time that it had been working with Repsol in recent months to finalize the transaction. No financial figures have been released.
Irving Oil partnered with Repsol to develop the LNG facility, which began operations in 2009. According to its website, the LNG facility is able to supply 20 percent of the natural gas needs of the northeast U.S. as well as Canadian needs.
By Brad Perry, the news director with CHSJ/Country 94, Huddle content partners.