Company’smanagement. Certain material factors or assumptions have been applied in drawing the conclusions contained in the forward-looking statements, which include but are not limited to receipt of applicable regulatory approvals and requested rate orders; absence of equipment breakdown, absence of environmental damage and health and safety issues, absence of adverse weather decisions and natural disasters, no significant operational disruptions or environmental liability as a result of a catastrophic event or environmental upset ability to obtain and maintain applicable permits, the adequacy of the corporation’s existing insurance arrangements, the First Nations settlement process does not adversely affect the corporation, the ability to maintain and renew collective bargaining agreements on acceptable terms, the ability to arrange sufficient and cost effective financing, no material adverse ratings actions by credit rating agencies, the competitiveness of natural gas pricing when compared with alternate sources of energy; continued population growth and new housing starts; the availability of natural gas supply; access to capital; interest rates and the ability to hedge certain risks. These factors or assumptions are subject to inherent risks and uncertainties surrounding future expectations generally that could cause actual results to differ materially from historical results or results anticipated by the forward-looking statements. Such risk factors include, but are not limited to, regulatory approval and rate orders risk; operational disruptions and environmental risk; price competitiveness risk; changes in economic conditions; natural gas supply risks; capital and credit ratings risk, interest rate risk and counterparty credit risk. These factors should be considered carefully and undue reliance should not be placed on the forward-looking statements. For additional information with respect to certain of these risks or factors, reference should be made to the Company’s Management Discussion & Analysis.
Tilbury LNG Facility
LNG is natural gas that has been cooled to a low temperature of -162°C to become a liquid. FortisBC uses LNG to supplement gas supply during periods of peak demand as well as for transportation customers. In operation since 1971, our LNG facility on Tilbury Island in Delta, B.C. is located near the FortisBC transmission pipeline system just a few kilometres from metropolitan Vancouver.
From the Tilbury LNG Facility, LNG is delivered by tanker truck to the LNG dispensing station on a customer’s property or at a commercial fuelling station along a regional corridor.
- The current Tilbury LNG Facility can liquefy 5,000 gigajoules of natural gas per day.
- Since LNG takes up 1/600th of the volume of gas, the tank, with a volume of 28,000 cubic metres, holds the equivalent of 17 million cubic metres (600,000 gigajoules) of natural gas — enough gas to keep a community of 12,000 warm for about 45 very cold days.
LNG dispensing rate
The LNG dispensing rate has been set at $4.35/gigajoule. This is intended to cover the cost of the transportation of the gas to the facility, liquefaction and dispensing. Customers will also pay the natural gas commodity cost per gigajoule.
Environmental benefits of natural gas for transportation
Converting fleets and vehicles to natural gas not only helps the province meet its greenhouse gas reduction goals but also helps improve air quality in the communities in which they serve.
- Natural gas burns cleaner than gasoline or diesel, which can result in less pollution and greenhouse gases.
- Carbon dioxide (CO2) emissions, the principal greenhouse gas that contributes to global warming, are reduced by 20 to 30 per cent.
- Natural gas vehicles emit virtually no particulate matter, the harmful microscopic component of air pollution that penetrates deeply into the lungs.
- Businesses converting their fleet to natural gas will help meet the province’s requirements for greenhouse gas reductions under the B.C. Greenhouse Gas Reduction Targets Act.
- Natural gas for transportation also helps achieve B.C.’s energy objectives defined under the Clean Energy Act.
- More stable fuel costs: historically, natural gas commodity prices have been shown to be more stable, compared to the fluctuation of prices for diesel and gasoline. Natural gas fuel costs have historically been 25 to 40 per cent less than diesel.
- Fewer emissions: natural gas is a cleaner burning, lower carbon fuel than diesel or gasoline.
- Quieter: operators of natural gas waste hauler trucks report they are quieter than comparable diesel trucks.
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