Sumitomo, Tokyo Gas Form Cove Point JV

Sumitomo Corporation and Tokyo Gas, through their subsidiaries, established the joint venture company ST Cove Point LLC in order to carry out contracted natural gas liquefaction processing and liquefied natural gas sales for the Cove Point LNG Project in the US state of Maryland.

The Project aims to procure US-produced natural gas through Pacific Summit Energy, a wholly-owned subsidiary of Sumitomo Corporation, and export about 2.3 million tons per year of LNG liquefied by Dominion Cove Point LNG (Dominion), the operator of the project. A license for exporting LNG to countries with which the US has no free trade agreement was obtained from the US Department of Energy in September 2013, and Dominion plans to start commercial operations in 2017.

The terminal service agreement concluded by PSE with Dominion will be assigned to ST Cove Point. In accordance with the LNG Heads of Agreement concluded with Sumitomo Corporation, 1.4 million tons per year are to be delivered to TG Plus Co, a wholly-owned subsidiary of Tokyo Gas, and 0.8million tons per year to Kansai Electric Power Co, via Sumitomo Corporation.

Table

 

LNG World News Staff, February 12, 2014; Image: Dominion

 

Share this article

Follow LNG World News

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

The 6th CWC China LNG & Gas International Exhibition & Summit

Following on from LNG 2019 and five successful editions in Beijing, the established China LNG & Gas International Exhibition & Summit…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >