Dominion Energy: Cove Point LNG Plant in Service in March

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Researched by Industrial Info Resources (Sugar Land, Texas)--Dominion Energy Incorporated (NYSE:D) (Richmond, Virginia) says that its Cove Point liquefied natural gas (LNG) production and export plant in Lusby, Maryland, will be in service in early March. The plant, which will be the second LNG exporting facility in the U.S., was initially scheduled to be in operation by the end of last year.

In a conference call regarding the company's results, Dominion Chief Executive Officer Tom Farrell said, "Construction of our Cove Point liquefaction project is complete, and we are in the final stages of commissioning. While commissioning has taken longer than originally planned, we are progressing toward an in-service date in early March. This is an enormously complicated process, and we and our contractors are ensuring that all of the work is done safely, thoroughly and correctly." Construction on the plant began in late 2014. For more information, see Industrial Info's project report.

Farrell also gave updates on some of the company's other large projects, including the Greensville natural gas-fired, combined-cycle power station in Greensville County, Virginia. Construction on the facility began in 2015, with Fluor Corporation (NYSE:FLR) (Irving, Texas) providing engineering, procurement and construction. Farrell said, "Construction on the 1,588-megawatt Greensville County combined-cycle power station continues on time and on budget. As of December 31, the $1.3 billion project was 73% complete. All major equipment is set. The primary natural gas line and M&R [metering and regulating] station are completed and awaiting final commissioning. Greensville is on schedule to achieve first fire in the second quarter and is expected to achieve commercial operations late this year." For more information, see Industrial Info's project report.

The company's Atlantic Coast natural gas pipeline will extend 600 miles from West Virginia, through Virginia and into North Carolina. The pipeline will transport up to 1.5 billion cubic feet per day of natural gas. Farrell spoke of the pipeline's progress: "On January 19, FERC [U.S. Federal Energy Regulatory Commission] issued a limited notice to proceed on the Atlantic Coast Pipeline and the related supply header project, which allows us to begin felling trees," said Farrell, who noted that additional state permits were imminent, allowing Dominion to ask FERC for full authorization to proceed with construction on the $5 billion pipeline. Completion of the project is expected in the second half of next year. For more information, see Industrial Info's project reports on the West Virginia, Virginia and North Carolina sections of the pipeline.

Industrial Info is tracking more than $20 billion in active Dominion Energy projects. The company reported net income of $52.3 million for fourth-quarter 2017, compared with $36.5 million in fourth-quarter 2016. Full-year 2017 net income was $195.1 million, compared with $106.4 million in 2016.

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