Save money with BC’s LNG for marine vessels
How can LNG from FortisBC save you money? We have multiple cost-saving advantages that allow us to price our LNG very competitively:
- Compared to the U.S. Gulf Coast, ships receiving LNG at our Tilbury LNG facility have a much shorter and more direct route to Asia.
- Ships going from BC to Asia don’t need to go through the Panama Canal, so they avoid the high Panama tolls.
- We have a colder climate for more efficient gas liquefaction.
- We have a reliable pipeline system linking our facilities to Canada’s abundant, low-cost gas reserves—which are large enough to maintain current production levels for up to 300 years.
Cost benefits of using LNG compared with conventional marine fuels
Fleets switching to LNG can save more than 50 per cent on fuelling costs, so the payback period when upgrading to LNG fuelling is relatively short.1 In fact, the West Coast Marine LNG Joint Industry Project Steering Committee released a report
with these findings:
"LNG use can offer significant economic benefits to owners and operators of certain types of vessels. For the six coastal vessel scenarios modelled, five had a payback of less than six years on initial investment.
Annual fuel costs for coastal vessels were reduced by more than 50%, with estimated fuel savings ranging from $500,000 per year to more than $5 million per year, depending on the vessel type."1