The Canaport LNG facility in Saint John is now fully owned by Spanish energy and petrochemical company Repsol SA.
Repsol announced on Monday that it had completed the acquisition of 100 per cent 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.
We’re excited to share that @RepsolWorldwide has completed the acquisition of 100% ownership of our terminal, and our new name will be Saint John LNG! We hope you like it as much as we do! Operations are continuing as normal, and we look forward to showing you our new look soon. pic.twitter.com/uJ20JStC9t
— Canaport LNG (@canaportlng) November 15, 2021
Irving Oil announced in August that it was divesting its 25 per cent 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 per cent of the natural gas needs of the northeast U.S. as well as Canadian needs.
