July 26, 2018 - 12:00 PM EDT
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Dominion Energy, Business Partners, Community and Government Leaders Celebrate Cove Point Liquefaction Project Commercial Operation

LUSBY, Md., July 26, 2018 /PRNewswire/ -- Dominion Energy (NYSE: D), its international business partners, and local, state and federal officials and community leaders today celebrated the commercial operation of the Dominion Energy Cove Point (DECP) LNG Liquefaction project.

(PRNewsfoto/Dominion Energy)

Kazutoshi Aikawa, Japanese deputy chief of mission of the embassy of Japan; Dr. Arunish Chawla, Minister (Economic), Indian Embassy in the United States; Rick Perry, United States Secretary of Energy, and Michael Gill, Secretary of the Maryland Department of Commerce, joined Dominion Energy Chairman, President and Chief Executive Officer Thomas F. Farrell, II, at the ceremony, along with Diane Leopold, executive vice president and chief executive officer, Dominion Energy gas infrastructure group; Shingo Ueno, president and chief executive officer, Sumitomo Corporation of Americas; Rajeev Singhal, Executive Director, GAIL India Ltd., and Evan K. Slaughenhoupt, Jr., president, Calvert County Board of County Commissioners.

"This is a momentous occasion for Dominion Energy – as it is for Sumitomo, GAIL, Tokyo Gas, Kansai Electric Power; the state of Maryland; and the United States of America, India and Japan," said Farrell during a dedication ceremony at the facility.

"This past April the project entered commercial service. And now, ships are delivering an American product – thereby creating American jobs and prosperity – to American allies, and thereby creating jobs and prosperity in Japan and India as well. And, as we always have been, we are committed to minimizing our impact on the environment, our neighbors and the Chesapeake Bay."

The facility produces not only LNG for DECP's customers but also well-paying jobs and economic benefits for the region, including an additional $40 million annually in revenue for Calvert County and a $48 million donation being made to Maryland Energy Assistance & Efficiency Programs.

Construction began in October 2014, following more than three years of federal, state and local permit reviews and approvals. With a cost of approximately $4.1 billion, it is the largest construction project ever for Maryland and for Dominion Energy. It has involved more than 10,000 craft workers with a payroll of more than $580 million, boosting the local business economy and creating 99 permanent jobs at DECP. It also provided more than $800,000 in grants and donations to local charities.

The liquefaction facility has a nameplate capacity of 5.25 million tons per year of LNG, equivalent to approximately 8.3 million gallons of LNG per day. LNG exports from Cove Point are expected to expand Maryland's global exports by up to 50 percent and shrink the United States' international trade balance by $5 billion a year.

About Dominion Energy

Dominion Energy is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 26,000 megawatts of electric generation, 14,800 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 approximately 1 trillion cubic feet of storage capacity and serves nearly 6 million utility and retail energy customers. For more information about Dominion Energy, visit the company's website at www.dominionenergy.com.

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SOURCE Dominion Energy


Source: PR Newswire (July 26, 2018 - 12:00 PM EDT)

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