- Dominion Energy (NYSE:D) says its $4B Cove Point liquefied natural gas export facility in Maryland is ~96% complete and should enter service by the end of this year.
- Once in service, Cove Point will be able to produce 5.25M metric tons/year, or the equivalent of ~700M cf/day of gas.
- Dominion has sold the project’s capacity for 20 years to a subsidiary of GAIL (India) Ltd and to ST Cove Point, a joint venture between units of Japan's Sumitomo and Tokyo Gas.
- Sumitomo agreed in 2013 to buy 350M cf/day of gas from Cabot Oil & Gas's (NYSE:COG) production in the Marcellus shale for 20 years once Cove Point enters service.