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Strategies & Market Trends : Natural Resource Stocks

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From: isopatch10/3/2017 12:06:46 PM
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<Cove Point in Maryland, is queued to become the second major U.S. LNG export facility to begin shipping cargoes, following Cheniere Energy (ticker: LNG) which in February 2016 became the first LNG export project to begin shipping liquefied U.S. natural gas to international customers.“The Cove Point export project remains on schedule for completion in the fourth quarter of this year,” a spokesman for Dominion Energy told Oil & Gas 360® via email. In its September update, Cove Point posted a statement on its website saying that “the liquefaction project is 95 percent complete; there are currently more than 3,200 construction workers on site. The company said all of the major equipment has been placed, cranes have been removed and now the focus is on commissioning activities.

Cove Point is currently an LNG import facility, but the rise of unconventional production from the Marcellus has pushed the facility to be retooled to export gas. Cove Point will have a total capacity of 5.7 MTPA when fully operational.>

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