In its submission filed on 27 December 2007, Repsol applied for an import license to supply the Canaport LNG Terminal which is currently under construction at Mispec Point near Saint John, New Brunswick. Once regasified, the natural gas will serve the domestic Canadian market and, pending approval, would also be available for export using the Emera Brunswick Pipeline to markets in the United States.

Repsol has requested 25 year terms for both licenses to import up to 10,480,000 10(3)m(3) (370 Bcf) of LNG in its gaseous state per year and to export up to 28,320,000 10(3)m(3) (1 Bcf) of natural gas per day.

After the application has been reviewed for completeness, the NEB will issue a hearing order that will provide more information about its hearing process which may be written, oral or a combination of both. The hearing order will include important dates and will also detail the different levels of public participation.

The NEB is an independent federal agency that regulates several parts of Canada's energy industry. Its purpose is to promote safety and security, environmental protection, and efficient energy infrastructure and markets in the Canadian public interest, within the mandate set by Parliament in the regulation of pipelines, energy development and trade.

The application documents are available on the Board's Internet site at www.neb-one.gc.ca.