Cove Point LNG
In 2012, PSE signed a 20-year Terminal Service Agreement (TSA) with Dominion Energy Cove Point LNG, LP for the right to use a liquefied natural gas (LNG) liquefaction facility terminal located in Lusby, Maryland.
The facility has the capacity to produce 5.25 million metric tons per annum (mtpa) of LNG of which 2.3 million mtpa will be sold to two major Japanese utilities, Tokyo Gas and Kansai Electric, and will be exported to Japan to meet the country’s continuing energy needs.
In 2014, PSE assigned the TSA to ST Cove Point (STCP), a joint venture company between Sumitomo and Tokyo Gas. STCP currently oversees the operations at the LNG terminal and the export of the LNG.