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>

<< Jan 2018 >>
MTWTFSS
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

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018…

read more >

CWC Japan LNG & Gas Summit

The inaugural CWC Japan LNG & Gas Summit, with participation and support from METI, JERA, Tokyo Gas and IEEJ, is the dedicated platform for international suppliers…

read more >

Asia Pacific Maritime and Offshore Exhibition 2018

7 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia…

read more >

CWC 2nd Papua New Guinea Petroleum & Energy Summit

The 2nd CWC Papua New Guinea Petroleum and Energy Summit is held under the patronage of the Prime Minister of Papua New Guinea…

read more >