Cove Point targets first cargoes to ship in early 2018
Dominion Energy’s Cove Point LNG facility in Lusby, Maryland, is sprinting into the stretch on the final lap in the race to export U.S. energy. When it crosses the finish line, Cove Point will become the U.S.’s second natural gas liquefaction plant to begin exporting liquefied U.S. natural gas (LNG) abroad. Cheniere was the first.
Dominion announced earlier this month that all the installed equipment at Cove Point works and the plant is in the commissioning process, expecting to ship first cargoes in early 2018.
Platts reported today that India’s GAIL has issued a tender looking to sell 24 cargoes loading from Cove Point LNG facility over 2019-20, market sources said Monday.
“The tender consists of three tranches, with the first January to June 2019 tranche consisting of one cargo per month. The second tranche involves six cargoes loading over July to December 2019. The third tranche comprises 12 shipments loading January to December 2020.
“Bids are to be made on a 115% Henry Hub basis, including a single constant denominated in dollars.
GAIL said in its 2016/2017 annual report it “has already concluded three time swap deals, wherein LNG volumes are purchased from international parties during financial year 2017-18 with an agreement to sell equivalent volumes of Henry Hub volumes during FY 2018-19″, according to Platts.
