Saturday, February 25, 2012

Dominion looks to expand Cove Point LNG export capabilities

COVE POINT, Md. - Dominion Cove Point received authorization on Oct. 7, 2011, from the Department of Energy to enter into contracts to export liquefied natural gas to countries that have free trade agreements with the United States.

It's quiet these days at Dominion's liquefied natural gas terminal in the Chesapeake Bay. Only five tankers docked last year at the pier a mile off the Calvert County shoreline, and not much traffic is expected this year, either.But thanks in large part to booming production of natural gas from shale deposits in neighboring states, the East Coast's largest LNG terminal could be bustling again in several years - exporting the heating and industrial fuel to other countries, instead of importing it.About 20 nations have free-trade agreements with the U.S. The company is now seeking federal permission to allow shipments to virtually any foreign country, except those barred because of trade embargoes.

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