Bruce McKay Managing Director Dominion Federal Affairs October 16, 2013 Governors Conference on Energy.

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Presentation transcript:

Bruce McKay Managing Director Dominion Federal Affairs October 16, 2013 Governors Conference on Energy

How Often? Billions of $$ in private investment Thousands of shovel ready project jobs Thousands of permanent jobs Billions of $$ in new federal, state, local revenues Reduce the U.S. trade deficit by billions annually Strengthen Americas strategic position in global affairs Stabilize energy prices for American consumers

Facility is locatedon the Chesapeake Bay in Southern Maryland 87 miles of 36 pipe 47 miles parallel 36 pipe Interconnectswith Transco Columbia DTI Cove Point Facility

Cove Point Liquefaction Update $3.4-$3.8 billion Tolling facility Long term capacity contracts with: Sumitomo Corp. (Japan) GAIL (India) One liquefaction train Liquefaction capacity 750 MMCFD inlet ~ 5 mtpa LNG output

The Path Forward DOE approval – September 11, Federal Energy Regulatory Commission approval Begin construction Commence operation

Third Party Support for LNG Exports National Association of Manufacturers American Chemistry Council Brookings Institution Bipartisan Policy Center Council on Foreign Relations American Council for Capital Formation American Security Project Peterson Institute Center for Strategic and International Studies Resources for the Future MIT Energy Initiative National Regulatory Research Institute Marshall Institute Labors International Union on North America National Taxpayers Union US Chamber of Commerce Small Business & Entrepreneurship Council

Editorial Support: Natural Gas Exports: A boon to the economy Washington Post - December 2012 Sending Natural Gas Abroad New York Times – December 2012 Energy Economics in One Lesson: Natural gas exports are good for America Wall Street Journal – December 2012

Geopolitical Considerations 40 year anniversary of OPEC oil embargo Why is Vladimir Putin Acting So Crazy?* Iran *Putin article available in Businessweek – September 2, 2013