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Gold/Mining/Energy : Big Dog's Boom Boom Room
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From: E_K_S10/9/2011 9:49:25 PM
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Dominion seeks exports of Marcellus Shale gas
OCTOBER 9, 2011, 4:10 P.M. ET
online.wsj.com

From the article:"...Richmond, Va.-based Dominion Resources Inc. announced last week that it has applied to the Department of Energy to allow 1 billion cubic feet per day to be exported through a terminal it owns in Maryland. The application, filed Sept. 1, seeks permission for the exports of liquefied natural gas to any country with which the United States does not prohibit trade, the company said...."

<snip>

"...Dominion is a major operator of natural gas pipelines and storage facilities. It would not actually own or directly export the liquefied natural gas, or LNG. Its customers would be responsible for supplying the gas to the terminal and then shipping and selling it, Dominion said...."

<snip>

"...To export LNG, Dominion said it would have to add liquefaction facilities to the existing Dominion Cove Point terminal. Construction could potentially begin in 2014 and service could begin by the end of 2016, it said...."

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Seems like a long time to get the permit and the liquefaction facilities on line. I wonder who their intermediary customers are that will be selling the NG? My guess CONSOL Energy Inc. (CNX)is the customer setting up the deals. CNX recently bought the NG assets from Dominion and has entered into two JV drilling deals with Noble Energy, Inc. (NYSE: NBL) ($1B value) and Hess Corporation ($593M value). CNX s/d start to receive new cash flows from their exported NG in 2016. That provides at least five years to drill the wells and get the pipelines in place. 1 billion cubic feet per day is quite substantial.

EKS
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