The Daily Chase: Markets point to muted open; Repsol walks away from east coast LNG concept
BNN Bloomberg
It’s shaping up to be a rather muted open in trading during what’s been a hectic week on equity markets.
REPSOL SCRAPS EAST-COAST LNG EXPORT CONCEPT
Looks like Canada’s fastest potential route to a liquefied natural gas export terminal on the east coast is dead in the water. Credit to Bloomberg’s Brian Platt on this scoop - Spanish energy firm Repsol is abandoning an idea to potentially expand its current import facility near Saint John, N.B. to also export LNG after a feasibility study showed the economics simply wouldn’t work, given how costly it would be to convert existing infrastructure to bring gas in from Western Canada. The potential for such an expansion came into sharp relief last year as Europe came to grips with the energy crisis due to the Russian invasion of Ukraine, but geography (and to a degree, pipeline politics) posed too great a hurdle – most of Canada’s natural gas is produced in Alberta and British Columbia, making it more logical to export from the West Coast.
BEHIND THE SCENES ON THE 'BLACKBERRY' MOVIE SET
