Bruce McKayManaging Director
Dominion Federal AffairsOctober 16, 2013
Governor’s Conference on Energy
How Often?
Billions of $$ in private investment Thousands of “shovel ready” project jobs Thousands of permanent jobs Billions of $$ in new federal, state, local
revenues Reduce the U.S. trade deficit by billions annually Strengthen America’s strategic position in global
affairs Stabilize energy prices for American consumers
• Facility is locatedon the Chesapeake Bay in Southern Maryland
• 87 miles of 36” pipe
• 47 miles parallel 36” pipe
•Interconnectswith
• Transco
• Columbia
• DTI
Cove Point Facility
Cove Point Liquefaction Update$3.4-$3.8 billion
Tolling facility• Long term capacity
contracts with:Sumitomo Corp.
(Japan)GAIL (India)
One liquefaction train
Liquefaction capacity• 750 MMCFD inlet• ~ 5 mtpa LNG output
The Path Forward
2013 -- DOE approval – September 11, 20132014 -- Federal Energy Regulatory Commission approval2014 -- Begin construction2017 -- Commence operation
Third Party Support for LNG Exports National Association of Manufacturers American Chemistry Council Brookings Institution Bipartisan Policy Center Council on Foreign Relations American Council for Capital Formation American Security Project Peterson Institute Center for Strategic and International Studies Resources for the Future MIT Energy Initiative National Regulatory Research Institute Marshall Institute Labors International Union on North America National Taxpayers Union US Chamber of Commerce Small Business & Entrepreneurship Council
Editorial Support:
Natural Gas Exports: A boon to the economyWashington Post - December 2012
Sending Natural Gas AbroadNew York Times – December 2012
Energy Economics in One Lesson: Natural gas exports are good for America
Wall Street Journal – December 2012
Geopolitical Considerations
40 year anniversary of OPEC oil embargo “Why is Vladimir Putin Acting So Crazy?”* Iran
*Putin article available in Businessweek – September 2, 2013