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Cove Point Facility News

30 Nov 2017

LNG Shipping on Recovery Path: Golar

The shipping market recovery is underway, says Golar LNG. Shipping demand has exceeded supply growth for the first time since 2013. "The shipping market is showing strong signs of improving. As of today, the effective time charter rates being achieved in 4Q are more than twice that recorded in 3Q. An improving trend is expected to continue into 2018-2019 when shipping supply should lag demand created by increased production. At full utilization, every $10,000 increase in shipping rates equates to approximately $40 million additional annual operating cash flows across the entire fleet," says a statement from the company. Demand growth has been supported by a combination of additional liquefaction volumes and rising ton miles.

31 Jul 2014

FERC Approves Freeport LNG Export Project

U.S. federal regulators on Wednesday approved construction of Freeport LNG Development LP's liquefied natural gas export project in Texas. Freeport is the third U.S. LNG export project to get the green light to begin construction from the Federal Energy Regulatory Commission. The planned project would have the capacity to export up to 1.8 billion cubic feet a day of LNG once operational. With domestic gas production booming, U.S. companies have lined up to ship the nation's abundant shale gas abroad. FERC approved construction of Sempra Energy's Cameron LNG export terminal in Louisiana last month. Companies need approval from both the Energy Department…

05 Mar 2004

Feature: Guiding the Gas

Many workboats in the marine industry are called upon in supply or assist roles. The entire offshore vessel industry is based on a supply function to oil and gas drilling operations or the resupply of production platforms. The tugboat industry is most often characterized as small vessels assisting very large ships in docking, undocking and other harbor movements. The growth of these vessel companies and their operations depends on the economic vitality of the larger industry they serve. Right now the hottest new market being served by tugs is in the assistance of very large Liquid Natural Gas (LNG) tankers to dock and undock. As is the case in other marine support operations, the growth of tugs to assist LNG tankers depends on the basic health of LNG transport.

07 Dec 2001

Cove Point LNG Proposal Under Review

The Coast Guard concluded two days of meetings today with local, state and federal officials as part of its ongoing review to help evaluate the suitability of the Chesapeake Bay for importing Liquefied Natural Gas (LNG) aboard tankships. The Coast Guard Captain of the Port (COTP) Baltimore received a letter of intent to resume LNG import operations from the Williams Company at its Cove Point facility in Calvert County, Md., last October. If approved, LNG import operations will involve moving LNG in tankships on the middle and lower Chesapeake Bay to Cove Point where the cargo will be handled and off-loaded at the company’s waterside facility. Under federal regulation (33 CFR Part 127.009), the COTP is required to evaluate the suitability of the Bay for conducting LNG operations.

25 Jul 2003

Dominion Resumes LNG Operations

The Coast Guard will escort a liquefied natural gas (LNG) shipment into Dominion’s natural gas facility in Lusby, Md., Friday about 2 p.m.; the first vessel to unload product at the facility in 23 years. The Coast Guard Captain of the Port of Baltimore in consultation with other federal, state, and local agencies verified the Cove Point facility is ready to resume operations and is capable of safely receiving and handling shipments of LNG. Homeland Security is a top priority of the Coast Guard, and the agency’s marine safety offices in Hampton Roads, Va., and Baltimore worked with the Maryland Department of Natural Resources Police, Virginia Marine Patrol and other local maritime enforcement partners on security related plans.