Dominion Energy (NYSE: D) is continuing with final commissioning work at its Cove Point LNG export facility in Lusby, MD, and looks forward to commercial operations early next year under the terms of previously negotiated 20-year contracts with ST Cove Point, which is the joint venture of Sumitomo Corporation and Tokyo Gas, and for GGULL, the U.S. affiliate of GAIL (India) LTD.
All major equipment has been operated and is being commissioned following a comprehensive round of thorough testing and quality assurance activities. DECP’s liquefaction facility has a nameplate capacity of 5.25 mtpa of liquefied natural gas.
The characterization of contract renegotiations is false. Conversations are ongoing with export customers in preparation for beginning commercial operations but there have been no changes in the contract terms since initial contract execution, and Dominion Energy does not intend to renegotiate contract terms in the future.
Construction of the liquefaction facility began in October 2014, following more than three years of federal, state and local permit reviews and approvals. With a cost of $4 billion, it is the largest construction project ever thus far for Maryland and for Dominion Energy. Construction has involved more than 10,000 craft workers and a payroll of more than $565 million.
Dominion Energy is one of the nation’s largest producers and transporters of energy, with a portfolio of approximately 25,600 megawatts of generation, 15,000 miles of natural gas transmission, gathering and storage pipeline, and 6,600 miles of electric transmission lines. Dominion Energy operates one of the nation’s largest natural gas storage systems with 1 trillion cubic feet of storage capacity and serves more than 6 million utility and retail energy customers. For more information about Dominion Energy, visit the company’s website at www.dominionenergy.com.