The customers also have signed precedent agreements for service on the 88-mile Cove Point pipeline, which connects the facility to a nexus of interstate natural gas pipelines in northern Virginia.
The customers will procure their own natural gas and deliver it to the Cove Point pipeline. Dominion will liquefy the gas, store it and load it into ships brought to the facility on the Chesapeake Bay. Dominion will provide a tolling service, and will not take possession of either the natural gas or the LNG.
Dominion is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 27,500 megawatts of generation, 11,000 miles of natural gas transmission, gathering and storage pipeline, and 6,300 miles of electric transmission lines. Dominion operates one of the nation's largest natural gas storage systems with 947 billion cubic feet of storage capacity and serves retail energy customers in 15 states. For more information about Dominion, visit the company's website at www.dom.com.
This news release includes certain "forward-looking information." Examples include information as to our expectations, beliefs, plans, goals, objectives and future financial or other performance or assumptions concerning matters discussed in this release. Factors that could cause actual results to differ from those in the forward-looking statements may accompany the statements themselves. In addition, our business is influenced by many factors that are difficult to predict, involve uncertainties that may materially affect actual results and are often beyond our ability to control or estimate precisely, such as estimates of future market conditions, additional competition, access to and costs of capital, the receipt of regulatory approvals for, and timing of, planned projects, and the ability to complete planned construction or expansion projects within the terms and timeframes initially anticipated. We have identified and will in the future identify a number of these factors in our SEC Reports on Forms 10-K and 10-Q. We refer you to those discussions for further information. Any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made.SOURCE Dominion