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Fortis could top growth goal with new LNG projects

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LNG Industry,

According to the latest report from Reuters, Canadian energy company Fortis Inc could beat its annual 5% growth target with new LNG and power transmission projects in the US and Canada.

Fortis is also likely to compete for projects included in the US’ trillion-dollar infrastructure plan.

Even without the infrastructure plan projects, the company expects to make investment decisions on projects this year that would allow it to beat its own growth goals.

The proposed new projects include a C$1 – 2 billion investment in an LNG export terminal in British Columbia, a C$600 million gas pipeline to another company's proposed LNG export terminal also in British Columbia, and two C$1 billion plus power lines – one in Ontario and another connecting Ontario to Pennsylvania.

In British Columbia, Fortis expects a C$400 million LNG storage facility in Tilbury to enter service in July to be used to provide fuel to local transportation – long haul trucking, fleet vehicles, ferries and other marine shipping.

Fortis is considering expansion at the site and is talking with Japanese companies to build an LNG export terminal there.

Fortis could also land a C$600 million project to build a pipeline to a proposed LNG export facility in British Colombia. Privately-held Woodfibre LNG proposed the LNG facility, which would be the first in Canada if it were built. Fortis expects Woodfibre to make a decision on the project by the end of 2017.

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