LNG

Dominion Energy, operator of the Cove Point liquefied natural gas plant in Maryland, has agreed a transaction valued at $9.7 billion to sell its gas transmission and gas storage assets to Berkshire Hathaway Energy owned by US investor Warren Buffett, including a 25 percent stake in Cove Point and its operatorship.

US LNG export data from the Department of Energy shows that buyers at the Sabine Pass plant in Louisiana paid a maximum of $6.09 per million British thermal units at the export point compared with up to $8.16 per MMBtu at the Cove Point plant in Maryland.

March 28 (LNGJ) - Dominion Energy, developer of the Cove Point LNG export plant in Maryland, has put the price of its public offering of 20 million shares of its common stock at $67.85 per share. The offering will be conducted under forward sale agreements. Goldman Sachs, Credit Suisse Securities, Barclays Capital, Citigroup and J.P. Morgan are acting as joint book-running managers of the offering. “The underwriters may offer shares of Dominion Energy's common stock in transactions on the New York Stock Exchange, in the over-the-counter market or through negotiated transactions at either market prices or at negotiated prices,” said Dominion. The offering is expected to raise at least $1.35 billion and would be used for debt financing.

The 138,100 cubic metres capacity vessel “Gemmata”, operated by Shell Shipping, departed the Cove Point LNG export plant on Chesapeake Bay carrying the first shipment from the facility, owned by Dominion Energy.

Dominion Energy, whose midstream unit owns the Cove Point LNG export project on Chesapeake Bay in Maryland, said regulators had issued a final Environmental Impact Statement for the Atlantic Coast Pipeline to ship natural gas.

Feb 7 (LNGJ) - Dominion Resources Inc., the US natural gas and utility company and owner of the Cove Point LNG export project in the state of Maryland, intends to change its name to Dominion Energy in recognition of its focus on the evolving energy marketplace. The company, based in Richmond, Virginia, also unveiled a new logo. “Dominion above all else is an energy company, committed to serving our customers safely and dependably,” said Thomas F. Farrell II, Chairman, President and Chief Executive. “Our company and our employees are proud of the work we have done in delivering energy for 119 years and of the reputation we have built through reliable and affordable service throughout the 18 states where we do business,” added Farrell.

Dominion, the US energy and power company whose assets include 14,400 miles of natural gas pipelines, said its Cove Point LNG project in Maryland was progressing well as it aims to be the nation's second export facility to come on stream after Sabine Pass in Louisiana.

Nov 22 (LNGJ) - US natural gas and energy group Dominion, developer of the Cove Point LNG export plant in Maryland due to come on stream in 2017, has appointed Diane Leopold, currently President of Dominion Energy, to the additional post of Chief Executive of the energy unit. “She will be responsible for all of Dominion's natural gas businesses,” said the Richmond, Virginia based company whose assets include 14,400 miles of natural gas pipelines. Leopold joined Dominion in 1995. She also serves as chair of the Interstate Natural Gas Pipeline Association of America, the first woman to hold the position. Dominion said Leopold will report to group Chairman, President and CEO Thomas F. Farrell II.

The $5-billion Atlantic Coast Pipeline project, involving liquefied natural gas export plant developer Dominion Resources, has signed a construction contract that will enable the delivery of feed-gas from the Marcellus Shale to LNG export plants in Maryland, Georgia and further south as well as to pipeline consumers.

US energy and utility company Dominion has filed a report with regulators on the progress of the Cove Point LNG export project in Chesapeake Bay in the state of Maryland, scheduled to come on stream in late 2017.