Dominion Power 2013 Annual Report Download - page 15

Returns for such gas storage and
transmission assets are regulated by state
and federal commissions.
Dominion also has brought online the
Natrium processing and fractionation facility
in Marshall County, W.Va.
We have contributed the plant, which can
process 200 million cubic feet of gas and
fractionate 36,000 barrels of NGL daily,
to Blue Racer Midstream, LLC, a joint venture
between Dominion and Caiman Energy II, LLC.
The Blue Racer joint venture, which
focuses on Utica infrastructure, expects to
put into service additional Utica natural gas
processing facilities — Natrium II in West
Virginia and Berne in Ohio— in 2014, capable
of processing 400 million cubic feet of
gas per day. Blue Racer has entered into
agreements totaling more than 300,000
dedicated acres, which should be enough at
full production to support both Natrium II
and Berne.
COVE POINT PROJECT CONTINUES
For producers seeking new markets for their
gas, LNG export facilities provide foreign
markets for them.
The Cove Point liquefaction project
in Lusby, Md., at an anticipated cost of
$3.4 billion to $3.8 billion, would be
Dominion’s largest in a generation.
For Dominion, the Cove Point project
breathes new life into the facility. Long-term
terminal service agreements with an aliate
of Sumitomo Corp., of Japan, and GAIL
Global (USA), of India, give Cove Point
additional opportunity and create a steady
stream of income for Dominion and its
shareholders whether or not the facility is in
use. This project also would extend the life of
the facility at least an additional 15 years.
Moreover, it would produce tangible
benefits — a balance-of-trade reduction
in America’s favor; new jobs, economic
activity and revenue for Maryland and
Calvert County; international markets for
gas producers; and a regular, clean supply
of natural gas for Tokyo Gas, Kansai Electric
Power Company and GAIL utility customers
that will help to power the Japanese
and Indian economies for years.
17 DOMINION RESOURCES, INC.
Before your company can begin
construction, we continue to await permits
from the Federal Energy Regulatory
Commission and the Maryland Public
Service Commission.
We aim to break ground in 2014 and
place the liquefier into service in late 2017.
THANK YOU FOR YOUR INVESTMENT
Our corporate roots are anchored in Virginia
and in the gas-producing Appalachian Basin,
where we have served our customers reliably
and well for generations.
Over those years, Dominion has earned trust
and built a sturdy reputation for innovation
and accomplishment among our customers,
regulators, financial analysts and peers.
An investment in Dominion recognizes
growth opportunities along several business
lines— electric and gas. You can expect us to
use our advantages and those opportunities
to leverage earnings-per-share growth,
solid shareholder returns and increasing
dividend payouts.*
Every day, our employees acknowledge
your commitment to the company.
We want to ensure that your decision
to invest in Dominion was wise, but we
also want you to believe in what we do.
We provide products — that no one can
live without — safely, eciently and cost-
eectively, with minimal impact to the
environment and with maximum benefit to
the communities where our employees and
customers live, work and raise their families.
Once again, thank you for your continued
investment in Dominion.
Sincerely,
Thomas F. Farrell II
Chairman, President and CEO
“
DOMINION HAS EARNED
TRUSTANDBUILTA
STURDY REPUTATION
FOR INNOVATION
AND ACCOMPLISHMENT
AMONG OUR CUSTOMERS,
REGULATORS, FINANCIAL
ANALYSTS AND PEERS.
”
* All dividend declarations are subject to Board of Directors
approval.