Dominion’s Cove Point LNG wins final US approval for non-FTA exports
The Energy Department announced today that it has issued a final authorization for Dominion Cove Point LNG to export domestically produced liquefied natural gas (LNG) to countries that do not have a Free Trade Agreement (FTA) with the US.
The Cove Point LNG Terminal in Calvert County, Maryland is authorized to export LNG up to the equivalent of 0.77 billion standard cubic feet/day (Bcf/d) of natural gas for a period of 20 years.
The development of US natural gas resources is having a transformative impact on the USenergy landscape, helping to improve energy security while spurring economic development and job creation around the country, according to Energy Department officials.
This increase in domestic natural gas production is expected to continue, with the Energy Information Administration forecasting a record average production rate of 72.4 Bcf/d in 2015.
Federal law generally requires approval of natural gas exports to countries that have an FTA with the US. For countries that do not have an FTA with the US, the Natural Gas Act directs the Department of Energy to grant export authorizations unless the department finds that the proposed exports “will not be consistent with the public interest.”
The Energy Department says it conducted an extensive review of the Dominion Cove Point LNG applications. Among other factors, the Department considered the economic, energy security, and environmental impacts and determined that exports at a rate of up to 0.77 Bcf/d for a period of 20 years was not inconsistent with the public interest.
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