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Natural gas: Repsol Energy North America aims to double its winter output to New England in 2010-11, company president says
FOR THE TELEGRAPH-JOURNAL
The head of Repsol Energy North America says his goal is to double the amount of natural gas that is shipped from Saint John's Canaport terminal to New England next winter.
Phil Ribbeck, president of Repsol Energy North America, says the company aims to double its winter output to New England in 2010-11 - up to 800 million cubic feet of natural gas a day.
This winter, the Canaport liquefied natural gas terminal has averaged a daily output of 400 million cubic feet of natural gas.
"I would like to get up to around 800 a day next year in the winter for average output," Ribbeck said in an interview from Houston on Thursday.
"I'd love to get up to that number. But the success of doing so depends upon securing the market, as well as ensuring that we have prearranged LNG (supply at Canaport) in order to fulfill the market needs."
To boost Canaport's winter output, Ribbeck said Repsol must bid successfully on requests for supply from natural gas distribution companies in New England - a process that runs from now until August.
"Naturally I'd like to increase the utilization of Canaport, but that largely depends upon the market," he said.
But Ribbeck said the prospects are good, judging from this winter.
Read the entire article here: http://nbbusinessjournal.canadaeast.com/journal/article/973971