Repsol Chosen Company of the Year in Canada

Repsol was chosen Company of the Year in Canada by the Canada-Spain Chamber of Commerce, in recognition of the company’s efforts in the country over the last few years.

Repsol Chairman Antonio Brufau accepted the award in a ceremony attended by the Canadian Ambassador Graham Shantz, the Director General for International Economic and Energy Affairs, Jose Eugenio Salarich and the Chairman of the Chamber of Commerce, Alberto Echarri. During his speech, Brufau expressed his satisfaction at accepting the award, which coincides with the first anniversary of the startup of the Canaport LNG regasification terminal in Canada.

The Chairman of Repsol also highlighted the excellent bilateral relations in every area between Canada and Spain. The Chairman of the Chamber of Commerce Alberto Echarri said that Repsol, “as one of Spain’s most emblematic and internationally renowned companies, betting on Canada is a clear and firm recognition of the opportunities that Canada represents”.

Repsol in Canada

Repsol operates the Canaport LNG terminal in Canada, the country’s only LNG regasification facility and the first constructed in the last thirty years on the North American east coast. Its opening in September 2009 reaffirmed Repsol’s commitment to natural gas and LNG as energy sources for the present and future.

During 2010, construction of the plant’s third storage tank was completed, allowing the delivery of larger cargoes and making Canaport the largest above ground storage site in Canada and the Northeast United States with a capacity of 10 billion cubic feet of gas. Repsol also owns mining rights in three offshore exploration blocks off the coasts of Terranova and Labrador.

This exploration programme is part of Repsol’s strategy to increase its presence in the exploration for and production of hydrocarbons in OECD countries.

The Canada-Spain Chamber of Commerce

Founded in December 2007 as a non-profit organization focused on promoting commerce and business relationships between Canada and Spain, the CCCE has become a platform for communication and exchange of information and ideas intended to build a stronger relationship between the two countries.

The Chamber acts as a distinguished mediator in the representation, promotion and support of the relationship between the two countries. The CCCE is establishing itself as the point of reference for commercial, technological, economic, scientific, industrial, tourism, legal and cultural issues related to Canada and Spain.

The Chamber counts on the support of both the Canadian Embassy in Spain as well as the Spanish Embassy in Canada and both their Ambassadors are honorary members. The creation of the Company of the Year in Canada award is part of this effort to bring both business communities closer and implies recognition of the contribution of a company to this growing relationship.

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Source: Repsol, September 22, 2010