MADRID (Dow Jones)
Spanish oil firm Repsol YPF SA (REP) Thursday said it has signed a multi-year liquefied natural gas agreement with Qatargas.
Under the agreement, Qatargas will supply LNG to Repsol Energy Canada Ltd. at its Canaport LNG facility in Saint John, New Brunswick.
"The new LNG supply from Qatar strengthens Repsol's position in the Canadian and Northeast U.S. markets as a reliable, diversified, flexible supplier of natural gas," said Benjamin Palomo, executive director of LNG for Repsol.
Repsol says it has delivered over 100 billion cubic feet of natural gas to the Northeast U.S. since Canaport LNG opened in September 2009. The 1 billion cubic feet per day facility is capable of meeting about 20% of the natural gas demand in New York and New England.
Repsol's shares rose 0.7% to EUR20.36 at 1153 GMT, while Madrid's IBEX-35 index was up 0.4%.
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