Dominion Power 2015 Annual Report Download - page 13

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11
DOMINION RESOURCES 2015 SUMMARY ANNUAL REPORT
COVE POINT LNG
CURRENT FACILITY
• Located on Chesapeake Bay in Lusby, Md.
• 14.6 billion cubic feet equivalent
storage capacity
• Supertankers can access pier
• Connects to multiple gas supply basins
PROJECT SCOPE
• $3.4–$3.8 billion
• All construction packages
approved by FERC
• Construction underway
• Liquefaction capacity fully subscribed
for 20 years
• Expected in-service — late 2017
PROJECT BENEFITS
ENVIRONMENTAL
• Uses existing footprint
• Protects 800-acre nature preserve
ECONOMIC
• 1,600 construction workers on site
• More than 1,000 onsite direct-hire
craft and subcontractor workers
• Nearly 100 permanent jobs at site
• Expected to contribute additional
$40 million annually in revenue to
Calvert County, Md.
INTERNATIONAL
• Provides U.S. allies source of natural gas
• Advances U.S. geopolitical interests
• Reduces trade deficit
LNG SUBSCRIBERS
ST COVE POINT, LLC
• Joint venture between Sumitomo
Corporation and Tokyo Gas Co., Ltd.
• Japanese offtakers include large gas and
electric utilities
GAIL GLOBAL (USA) LNG LLC
• U.S. subsidiary of GAIL (India) Limited
• One of largest gas processing,
distribution companies in India
A GOOD NEIGHBOR
Dominion values the environment. We routinely look for ways to partner
with organizations doing good things and be a positive influence on
our communities.
In our time in Calvert County, Md., we have:
• Worked to protect an 800-acre nature preserve surrounding Cove Point.
• Awarded nearly $500,000 to create an artificial reef — and with it the
emergence of oysters, striped bass, spadefish and black sea bass — and
install an open-water monitoring buoy measuring, among other things,
the Chesapeake Bay’s temperature and salinity.
• Provided a grant to distribute more than 1.5 million oysters in several
tributaries of the Patuxent River.
• Restored the largest freshwater marsh on the western shore of the Bay.
• Worked with local schoolchildren to reforest 15 acres by planting
5,250 trees native to the county and region as a whole.
2014
2015
COVE POINT
LIQUEFACTION PROJECT