Dominion Cove Point LNG Terminal Wins Federal Approval
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Dominion Resources Inc. won final U.S. approval to export liquefied natural gas from an East Coast terminal it intends to place in a publicly traded partnership.
The U.S. Federal Energy Regulatory Commission issued the permit for the Cove Point terminal in Maryland, according to a statement yesterday. Dominion has proposed a tax-advantaged master limited partnership, or MLP, to own the terminal and use proceeds from a planned initial public offering to help fund construction estimated to cost as much as $3.8 billion.