Repsol Cancels Ten LNG Cargoes to Argentina

LNG player Repsol of Spain canceled ten shipments of liquefied natural gas to Argentina’s Enarsa, Platts reported, citing the company’s spokesman Kristian Rix.

“We can confirm that Repsol has canceled 2012’s shipments to Enarsa because of repeated failures by Enarsa to comply with the terms of the supply agreement,” he said.

He also said that Repsol was “holding Enarsa liable for a breach in the terms of the contract” between the two parties and that Repsol would “reserve the right to take legal action.”

Earlier this month, Argentina seized control of the energy company’s majority stake in YPF.

Repsol’s Q1 income from its LNG business rose 37.4 percent in the first quarter to 158 million euros.

[mappress]
LNG World News Staff, May 21, 2012; Image: Repsol