Americas News
Gas Company Invests $5 million in LNG Ferry Project
Canadian power distribution company FortisBC said that it will invest CAD $5 million ($4.4 million) in two new liquefied natural gas (LNG) capable ferries for British Columbia-based Seaspan Ferries Corporation.
According to FortisBC, the two new vessels will reduce carbon emissions by 5,450 metric tonnes per year.
Seaspan also has a separate fuelling agreement with Fortis for up to 200,000 gigajoules of LNG per year from FortisBC's Tilbury LNG Facilty, which is currently undergoing a $400 million expansion.
"Switching to LNG is a natural progression for us," said Steve Roth, Seaspan's vice-president.
"Since two of Seaspan's core values are efficiency and care, we are extremely pleased that moving to LNG will both reduce fuel costs and provide environmental benefits."
The funding is a part of FortisBC's $62 million incentives program to fund fleet operators' engine conversions to LNG, both on land and in water.
So far, $28 million has been paid out in total to both land vehicles and marine vessels, according to the company.
British Columbia has made a concerted push towards LNG development in the process, with about 15 projects currently in the proposal stage.
However, regulatory hurdles and delays have frustrated some backers, with Malaysia's Petronas having threatened to drop its $10 billion B.C. LNG project back in September.
