MADRID -- Repsol is increasing investments in Trinidad and Tobago. The company plans to bid in new offshore exploration rounds off the coast.
Developing and expanding the LNG business is also a key part of the company's 2008-2012 strategic plan, which envisions total overall spending of $41.4 billion. This year, Repsol will open the Canaport re-gasification plant on the east coast of Canada, which will help guarantee supply to the northeast of the US. Repsol is also building a gas liquefaction plant in Peru.
"Atlantic LNG represents a key asset in the LNG business," says Antonio Brufau, Repsol's chairman. "Repsol has expansion plans in the Caribbean region. We have already invested $2.5 billion in the Caribbean, of which $1.8 billion were spent in Trinidad and Tobago."