08:28:35 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Fortis Inc
Symbol FTS
Shares Issued 283,099,180
Close 2016-05-19 C$ 39.96
Market Cap C$ 11,312,643,233
Recent Sedar Documents

Van Sun/CP say Fortis feels warmth of Hawaiian LNG deal

2016-05-20 09:45 ET - In the News

The Vancouver Sun reports in its Friday edition that Fortis ($39.96) has signed an agreement to provide liquefied natural gas from British Columbia to the Hawaiian Islands. A Canadian Press dispatch to The Sun quotes B.C.'s Minister of Natural Gas Development, Rich Coleman, as saying the agreement between Fortis and Hawaiian Electric Company is one of the first to export LNG from this province. The 20-year agreement is still subject to regulatory approvals in B.C. and Hawaii, but could see 800,000 metric tonnes of LNG shipped from FortisBC's LNG plant in Delta to Hawaii, starting in 2021. Mr. Coleman says the arrangement showcases British Columbia's capacity to supply clean energy to new markets. B.C. liquefied natural gas will allow Hawaiian Electric to decrease reliance on imported oil, cut greenhouse gas emissions and begin the switch to 100-per-cent renewable energy. A $400-million expansion of FortisBC's Tilbury plant in Delta should be complete this year as the company works to meet the storage and transportation requirements of ultracooled liquid natural gas. The agreement should lead to further expansion of the Delta plant, where more than 470 tradesmen have registered for work on the project.

© 2024 Canjex Publishing Ltd. All rights reserved.