Comprehensive Range of LNG Solutions
Pacific Summit Energy LLC (“PSE”) offers various Gas and LNG solutions and enables us to add value and profitability for our customers and stakeholders.
Our portfolio includes long-term projects, such as a 20-year tolling contract with Cove Point in the US, as well as mid-term and spot transactions.
With our diverse experience and characteristic customer focus, we offer our partners a way to optimize their assets in a global LNG market.
Cove Point Project
In 2012, PSE signed a 20-year Terminal Service Agreement (TSA) with Cove Point LNG, formerly known as Dominion Energy Cove Point LNG, for the right to utilize a Liquefied Natural Gas (LNG) terminal located in Lusby, Maryland, USA.
The facility has the capacity to produce 5.25 metric tons per annum (mtpa) of LNG, of which 2.2 mtpa will be sold to two major Japanese utilities. These two utilities, Tokyo Gas and Kansai Electric, will export 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 Tokyo Gas and Sumitomo Corporation. STCP currently oversees the operations at the Cove Point terminal and is in charge of the export operation at the facility.
Our Prominent Role in Global LNG Markets
PSE stands as a prominent player in the Asian and Middle Eastern LNG markets while continuing to introduce new products and managing long-term sales contracts with esteemed customers across various regions.
Furthermore, our active engagement in gas and power trading throughout Western Europe enhances our commitment to meeting the diverse needs of both producers and consumers.
Overall, PSE’s operations encompass the production and transportation of billions of cubic meters of gas annually throughout the UK, France, Belgium, Germany, and Italy.
LNG Solutions Tailored to All Markets
While nestled among other energy sources and technologies, PSE recognizes LNG as a crucial component within the energy transition landscape. Utilizing a comprehensive blend of technical, commercial, and project management proficiency with an extensive LNG supply and shipping portfolio, PSE is dedicated to providing LNG solutions tailored to all markets and customers. Beyond supplying LNG, we extend our support to our clients by constructing and financing new land-based or offshore import infrastructure in addition to facilitating the development of integrated power plants.
Our strategic outlook emphasizes LNG's pivotal role in meeting the evolving energy consumption patterns of our customers and anticipating sustained global demand for LNG in the foreseeable future.
PSE’s LNG portfolio will continue to play an important role in delivering value for PSE while working with our customers to help them reduce their emissions for years to come.