National Energy Board approves most elements of Repsol application for licences to import liquid natural gas and export natural gas



    CALGARY, Sept. 4 /CNW/ - The National Energy Board (NEB) today approved
an application by Repsol Energy Canada Ltd. (Repsol) for a long-term licence
authorizing the importation of liquefied natural gas (LNG) into Canada, and a
separate licence to export regasified LNG from Canada to the United States.
    In its application, Repsol stated that the LNG will supply the
Canaport(TM) LNG Terminal at Mispec Point, near Saint John, New Brunswick.
After it is transformed back into gas, the natural gas will serve the domestic
Canadian market and also be available for export to markets in the United
States through the Emera Brunswick Pipeline.
    After applying a market-based approach, the NEB was satisfied that the
proposed import of LNG at the Canaport(TM) LNG Terminal is in the Canadian
public interest. The NEB concluded that the volumes to be imported should be a
useful addition to the supply of natural gas in North America, supplementing
the supply available to Canadians to meet their energy needs. The NEB was also
satisfied that Repsol will make the imported LNG available to Canadian buyers
with the same financial terms and prices that will be given to export
customers.
    The NEB applied the Market-Based Procedure and granted the export licence
that allows the regasified imported LNG to be exported to the United States.
    However, the NEB denied Repsol's request to export Canadian-sourced
natural gas as part of the export licence. Repsol's application did not
contain sufficient information to meet the requirements of the Market-Based
Procedure.

    The NEB is an independent federal agency that regulates several parts of
Canada's energy industry. Its purpose is to promote safety and security,
environmental protection, and efficient energy infrastructure and markets in
the Canadian public interest, within the mandate set by Parliament in the
regulation of pipelines, energy development and trade.

    This news release and the Reasons for Decision are available on the
Board's Internet site at www.neb-one.gc.ca under What's New!





For further information:

For further information: Carole Léger-Kubeczek, Communications Officer,
Email: carole.leger-kubeczek@neb-one.gc.ca, Telephone: (403) 299-2717; For a
copy of the Decision: National Energy Board, Publications, Ground Floor, 444
Seventh Avenue SW, Calgary, Alberta, T2P 0X8, Telephone: (403) 299-3561,
Telephone (toll free): 1-800-899-1265, Telecopier: (403) 292-5576, Telecopier
(toll free): 1-877-288-8803, E-mail: library@neb-one.gc.ca


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