Wholesale Gas and Trading
In 2018, the volume of gas Repsol sold in North America rose by 5% thanks to the increase in demand caused by low temperatures in the northeastern United States at the beginning of the year. In this area, our company sells natural gas given the flexibility offered by the Canaport plant to produce regasified LNG. Last year, we signed long-term third-party supply contracts with two gas-distribution companies also located in the northeast region of the country.
Another one of our activities consists in selling and trading natural gas from the blocks in Marcellus (United States) and Alberta (Canada), as well as gas purchased from third parties. We are present in natural gas trading throughout North America.
On the other hand, we entered into several long-term contracts to purchase LNG from producers in the US Gulf of Mexico, as well as other contracts with shorter terms, which will allow us to cover the needs of our industrial complexes and electricity-generation facilities, sell natural gas in Spain, and engage in LNG trading throughout the world.