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Fortis Inc
Symbol FTS
Shares Issued 192,475,945
Close 2013-04-22 C$ 33.73
Market Cap C$ 6,492,213,625
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Globe says Fortis producing LNG since 1971

2013-04-23 07:58 ET - In the News

The Globe and Mail reports in its Tuesday edition that Liberal leader Christy Clark has taken every opportunity during the current provincial election campaign to tout the promise of liquefied natural gas. The Globe's Justine Hunter writes that Ms. Clark is stumping along heralding an industry she insists will deliver a bonanza of revenues that will pay off the provincial debt, create a dividend fund for the north and more. The promise to create a debt-free British Columbia on the back of this lucrative new resource is so central to her election campaign, the slogan is featured on the side of her campaign bus. Energy Minister Rich Coleman says he now sees 10 potential LNG export terminals dotting the coast, with four new applications in Prince Rupert, plus the six earlier proposals for the Kitimat area. B.C. already produces LNG. FortisBC has been freezing and squeezing natural gas for the domestic market since 1971 at a plant in Delta, on the Fraser River. Its second plant, on Vancouver Island, went into production late in 2011. The new $200-million Mt. Hayes plant, south of Nanaimo, is small scale compared with the proponents which want to build for export markets in Asia.

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