Dominion Energy’s first vessel, tanker Gemmata, left their Cove Point LNG terminal in Maryland earlier this month, but the company did not specify its exact destination. Cove Point is the second big LNG terminal in the U.S. as Dominion spent $4 billion to add export facilities to this terminal. Cove Point is designated to liquify about 0.75 Bcf/day of gas, contributing to the rising U.S. LNG export capacity which is expected to rise from 3.8 Bcf/day today to 10.1 million Bcf/day by the end of 2020.
Once the six LNG export facilities under construction in the U.S. commence operations over the next few years, there will likely be a lull in new export capacity additions. Many other proposed projects have sought and received FERC approval to export LNG, however those facilities have still not reached final investment decisions as companies are hesitant to commit to the multi billion dollar capital investment required without firm long term offtake agreements.
Projected LNG Export Capacity
