Business
Tilbury LNG Facility expansion and natural gas for transportation boosted by government announcement
FortisBC transportation and natural gas customers benefit from changes SURREY, BC , N...
About this update from Fortis Inc.
[{"type":"text","content":"\n\n\nFortisBC transportation and natural gas customers benefit from changes\n\n\nSURREY, BC, Nov. 28, 2013 /CNW/ - FortisBC, a subsidiary of Fortis Inc.\n (TSX: FTS) commends the B.C. government for changes announced today\n that will help to increase FortisBC's ability to rapidly and\n cost-effectively supply liquefied natural gas (LNG) to the B.C.\n marketplace.\n\n\nThe changes include updates to the greenhouse gas reduction regulation\n and directions to the BC Utilities Commission (BCUC), including the\n exemption of the planned expansion of FortisBC's Tilbury LNG facility\n from a certificate of public convenience and necessity review by the\n BCUC.\n\n\n\"Today's direction from government allows FortisBC to better support the\n province in the development of natural gas for the transportation\n sector. This announcement will also result in increased LNG supply,\n creating opportunities for industrial users and remote communities,\n bringing economic development and new jobs to B.C.\" said John Walker,\n president and CEO of FortisBC.\n\n\n\"Government's announcement, also positions FortisBC to move forward\n immediately with plans to expand our Tilbury LNG Facility. This project\n contemplates an investment of up to $400 million,\" said Walker.\n\n\nThe investment in the FortisBC Energy Inc. gas utility would be subject\n to FortisBC Board approval and additional regulatory and environmental\n permits and approvals, including the B.C. Oil and Gas Commission. The\n expansion is expected to include a second tank and a new liquefier,\n both to be in service by mid-2016. The expansion will add approximately\n one million gigajoules of LNG storage, as well as 30,000 to 60,000\n gigajoules of liquefaction capacity per day. It will also provide 300\n person-years of construction jobs and about $4 million a year in taxes\n paid to various levels of government over time. FortisBC expects to\n finance the expansion as part of its natural gas regulated rate base.\n\n\n\"Government wanted to get out of the way and allow the transportation\n fuel component of the LNG industry develop quickly,\" said Bill Bennett,\n minister of energy and mines and minister responsible for core review.\n \"This $400-million investment in FortisBC's Tilbury LNG Facility will\n build B.C.'s marketplace for the world's cleanest fuel, LNG, and create...