Repsol’s effort to sell a liquefied natural gas business for ~$2.7B reportedly has bogged...

|About: Repsol S.A. ADR (REPYY)|By:, SA News Editor

Repsol’s effort to sell a liquefied natural gas business for ~$2.7B reportedly has bogged down over its commitments to ship gas into Canada, as the underutilized Canaport LNG import hub "has become a big white elephant for Repsol due to the North American gas-supply demand fundamentals.” A sale has been a centerpiece of Repsol’s divestment plan aimed at avoiding a debt-rating downgrade to junk.