Spain

Iberdrola USA Inc., a unit of Spain’s Iberdrola SA, has completed the sale of two natural gas distribution companies in Connecticut and one in Massachusetts to UIL Holdings Corp. in a deal valued at about $1.25 billion after adjustments. The sale involves Connecticut Natural Gas Corp., The Southern Connecticut Gas Co. and The Berkshire Gas Co. The companies distribute approximately 56.5 Bcf gas per year to nearly 369,000 customers in Connecticut and Massachusetts, and have a combined workforce of about 800. The deal was announced last May (see Daily GPI, May 26).

UIL Holdings Corp. has agreed to acquire three natural gas utilities — Southern Connecticut Gas Co. (SCG), Connecticut Natural Gas Corp. (CNG) and The Berkshire Gas Co. — from a unit of Spain’s Iberdrola SA for $1.296 billion in cash less net debt of $411 million.

UIL Holdings Corp. has agreed to acquire three natural gas utilities — Southern Connecticut Gas Co. (SCG), Connecticut Natural Gas Corp. (CNG) and The Berkshire Gas Co. — from a unit of Spain’s Iberdrola SA for $1.296 billion in cash less net debt of $411 million.

Anyone watching North American natural gas prices might blanch at the thought of christening a liquefied natural gas (LNG) import terminal, but Spain’s Repsol forged ahead recently with the opening of its Canaport facility at Mispec Point, near Saint John, NB. Repsol Energy North America (RENA) President Phil Ribbeck noted that winter is coming and he expects cargo traffic to ramp up soon and into next year.

Anyone watching North American natural gas prices might blanch at the thought of christening a liquefied natural gas (LNG) import terminal, but Spain’s Repsol forged ahead recently with the opening of its Canaport facility at Mispec Point, near Saint John, NB. Repsol Energy North America (RENA) President Phil Ribbeck noted that winter is coming and he expects cargo traffic to ramp up soon and into next year.

The 1 Bcf/d Canaport LNG terminal has marked its official opening, giving Spain’s Repsol YPF greater access to U.S. and Canadian natural gas markets. The liquefied natural gas (LNG) terminal received its first cargo in June (see NGI, June 22). It can supply up to 20% of New York and New England’s gas demand, according to Repsol. The terminal facility has the capability to store 9.9 Bcf of gas in liquefied form. Canaport LNG is the first to be completed of 10 key projects included in Repsol’s 2008-2012 strategic plan. It is the first land-based LNG receiving and regasification terminal built on the East Coast of North America in 30 years and the first LNG receiving and regasification terminal in Canada. Repsol partnered with Fort Reliance, Irving Oil’s parent company and owner of Canada’s largest oil refinery, in the construction of the terminal. Repsol is the managing general partner with a 75% stake and has contracted for 100% of the plant’s capacity. Repsol began selling gas in the Northeastern United States in 2008. The company said it plans to quadruple its global volumes of LNG sold by 2012.

The 1 Bcf/d Canaport LNG terminal marked its official opening Thursday, giving Spain’s Repsol YPF greater access to U.S. and Canadian natural gas markets.

With the Canaport LNG terminal due to receive its first shipment of liquefied natural gas (LNG) within days, Spain’s Repsol YPF is poised to enter the North American gas market with up to 1 Bcf/d of supply delivered “at the end of the pipe” to the hurricane-free Northeast/New England market.

With the Canaport LNG terminal due to receive its first shipment of liquefied natural gas (LNG) within days, Spain’s Repsol YPF is poised to enter the North American gas market with up to 1 Bcf/d of supply delivered “at the end of the pipe” to the hurricane-free Northeast/New England market.