- Repsol (OTCQX:REPYY, OTCQX:REPYF) is seeking partners to invest $4B to export natural gas from North American shale to Europe, Reuters reports.
- Repsol aims to build the plant with a planned capacity of 5M metric tons/year of liquid natural gas at its Canaport terminal on the east coast of Canada in New Brunswick to meet Europe's growing demands for cheap and dependable gas.
- The project may attract large European utility companies interested in diversifying away from Russia, which currently supplies about a third of the EU's oil and gas needs, and ~40% of that is shipped through Ukraine.