Repsol LNG Sale Seen Delayed as Shale Goring Canaport: Energy

Repsol SA’s effort to sell a liquefied natural gas business for about $2.7 billion has bogged down over its unsuccessful 25-year commitments to ship gas into Canada, two people familiar with the matter said.

Spain’s biggest oil explorer has found that Canaport, its underutilized LNG import hub, was a hurdle to closing a deal, the people said, asking not to be identified because the sale talks are private. Royal Dutch Shell Plc has negotiated for the assets, which are mostly in southeastern Canada, Trinidad and Tobago, Peru and Spain, one of the people said.