HomeNewsBerkshire Hathaway's Maryland Cove Point LNG export plant shut for maintenance

Berkshire Hathaway's Maryland Cove Point LNG export plant shut for maintenance

9/23/2024

U.S. energy firm Berkshire Hathaway Energy shut its Cove Point liquefied natural gas (LNG) export plant in Maryland (U.S.) for about three weeks of annual autumn maintenance, according to a company notice to customers.

The amount of natural gas flowing to the plant, which shut around Sept. 20, fell to near zero from an average of around 700 MMft3d since Aug. 1, according to data from financial firm LSEG.

The plant, which has the capacity to turn about 800 MMft3d of gas into LNG, has pulled in an average of around 800 MMft3d since it returned to service in mid-October 2023 from its last autumn maintenance outage.

One Bft3 is enough to supply about 5 MM U.S. homes for a day.

U.S. LNG export plants typically shut for planned maintenance in the spring or autumn when global demand for gas for heating or cooling is lower than during the peak winter and summer months.

Berkshire Hathaway Energy is a unit of U.S. multinational conglomerate Berkshire Hathaway. Berkshire Hathaway Energy completed the purchase of 50% of Cove Point from Virginia energy company Dominion Energy in September 2023 for about $3.3 B.

Berkshire Hathaway Energy operates Cove Point and owns 75% of the facility. The other 25% has been owned by units of Brookfield Asset Management.

Cove Point's LNG has been sold under 20-yr agreements to a subsidiary of GAIL (India) and to ST Cove Point, which is a joint venture between units of Japanese trading company Sumitomo and Tokyo Gas.

 

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