Seeking Alpha

Repsol reportedly seeking $2B LNG plant in Canada amid Ukraine crisis

  • Repsol (REPYY, REPYF) is considering building a $2B plant on Canada’s Atlantic coast to export natural gas, as Europe seeks to reduce its dependence on Russia for the fuel, Bloomberg reports.
  • Repsol would erect the facility at its existing Canaport LNG plant, which was designed to import liquefied natural gas and is underused.
  • The crisis in Ukraine may help Repsol justify investing more in a disappointing project that has already undergone a $1.3B writedown.
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