Dominion Receives Maryland Public Service Commission's Approval Of Cove Point
LNG Export Project
-- Air emissions will comply with stringent federal, state limits and
requirements that protect public health
-- PSC's decision follows FERC Environmental Assessment earlier in month
LUSBY, Md., May 30, 2014
LUSBY, Md., May 30, 2014 /PRNewswire/ --Dominion (NYSE: D) said today it has
received from the Maryland Public Service Commission a Certificate of Public
Convenience and Necessity (CPCN) related to the company's plan to add export
capability at its Cove Point liquefied natural gas facility in Calvert County.
The certificate was needed for two 65-megawatt steam turbine generators that
produce electricity. The waste heat from two combustion turbines, which are
used to drive compressors to produce LNG, will be recycled to produce steam to
drive the steam turbines.
"We are pleased to receive the CPCN order from the Maryland Public Service
Commission," said Diane Leopold, president-Dominion Energy. "We wish to thank
the Commission members, PSC staff, Power Plant Research Project staff and
others for their diligent work. We are now reviewing the order, and look
forward to working with the commission to meet the conditions so the project
can continue to move forward in a timely manner."
The PSC approval came 15 days after the Federal Energy Regulatory Commission
(FERC) issued its environmental assessment that found the natural gas export
project proposed for Cove Point can be built and operated safely with no
significant impact to the environment.
"The Cove Point LNG facility has been in existence for nearly 40 years and
this export project makes the most of existing facilities. The air emissions
from Cove Point will comply with stringent health-based federal and state
limits and requirements while the LNG will reduce greenhouse gas emissions in
two countries that are striving to clean their air while continuing to grow
their economies," Leopold said.
The construction of the export project, which is estimated to cost between
$3.4 billion and $3.8 billion, will create thousands of skilled construction
jobs, 75 permanent jobs and an additional $40 million in annual tax revenue to
Calvert County. The county today receives $15.7 million a year from the LNG
IHI/Kiewit Cove Point, a joint venture between IHI E&C International
Corporation of Houston and Kiewit Corporation of Omaha, Neb., is the
engineering, procurement and construction contractor for the new liquefaction
facilities. Dominion has fully subscribed the marketed capacity of the project
with 20-year service agreements with ST Cove Point, LLC, a joint venture of
Sumitomo Corporation, a Japanese corporation that is one of the world's
leading trading companies, and Tokyo Gas Co., Ltd., a Japanese corporation
that is the largest natural gas utility in Japan; and GAIL Global (USA) LNG
LLC, a wholly owned indirect U.S. subsidiary of GAIL (India) Limited, one of
the largest natural gas processing and distributing companies in India.
Dominion is one of the nation's largest producers and transporters of energy,
with a portfolio of approximately 23,600 megawatts of generation, 10,900 miles
of natural gas transmission, gathering and storage pipeline and 6,400 miles of
electric transmission lines. Dominion operates one of the nation's largest
natural gas storage systems with 947 billion cubic feet of storage capacity
and serves retail energy customers in 10 states. For more information about
Dominion, visit the company's website at www.dom.com.
Contact: Jim Norvelle, (804) 771-3176, mobile (804) 921-2618,
Jim.Norvelle@dom.com; or Karl Neddenien, (410) 286-5749, mobile (804)
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