Dominion's stake in LNG
The Department of Energy's Office of Fossil Energy recently commissioned NERA Economic Consulting to conduct a third party study in order to gain a better understanding of how U.S. liquefied natural gas (LNG) exports could affect the public interest, with an emphasis on the energy and manufacturing sectors.
The research confirms that selling natural gas to other countries will result in net economic benefits for the United States.
Many sites in the U.S. and Canada are seeking to export natural gas to Asia and Europe, but Dominion has a particularly large stake in the game. If its Cove Point LNG facility is approved as a site where the liquefied natural gas could be shipped to friendly nations, Dominion contends that many benefits could come to Maryland and the Mid-Atlantic region.
"This project would mean jobs and revenues for Maryland and the Mid-Atlantic region," said Thomas F. Farrell II, Dominion's chairman, president and CEO. "Dominion Cove Point is the logical, cost-effective and environmentally-efficient site to use to export domestic natural gas. With the addition of liquefaction facilities at our existing site in Maryland, we will have the ability to liquefy, store and load natural gas on tankers for export to countries friendly to the U.S."
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