Canaport LNG Limited Partnership is a Canadian limited partnership between subsidiaries of Irving Oil Limited (25% owner) and Repsol YPF, S.A. (75% owner).

Irving Oil Limited and Repsol YPF, S.A. entered into definitive agreements in June 2005 to develop a liquefication natural gas import and regassification terminal in Saint John, New Brunswick, Canada. The agreements formed a new company, Canaport LNG, which will construct, own and operate the terminal.

The Canaport LNG terminal will have an initial capacity of 1 billion cubic feet per day of natural gas, as provided in its existing permit. Repsol YPF will be responsible for providing all of the liquefied natural gas and will hold the capacity of the terminal. Irving Oil will market the regassified natural gas in Atlantic Canada, and Repsol will market the regassified natural gas elsewhere in Canada and in the U.S.