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TheStreet Open House

Dominion Welcomes Favorable FERC Environmental Assessment Of Cove Point LNG Export Project

Stocks in this article: D

LUSBY, Md., May 15, 2014 /PRNewswire/ -- Dominion (NYSE:D) today welcomed the release of a federal environmental assessment that finds the natural gas export project proposed for its existing Cove Point LNG facility in southern Maryland can be built and operated safely with no significant impact to the environment.

"The Federal Energy Regulatory Commission and other federal and state agencies that reviewed our proposal are to be commended for their thorough and independent assessment. The 241-page report represents nearly two years of study, tens of thousands of pages of documentation and many thousands of hours of work. This marks another important step forward in a project that has very significant economic benefits and helps two allied nations in their efforts to increase their energy security and reduce their greenhouse gas emissions," said Diane Leopold, president of Dominion Energy.

"The Cove Point LNG facility has been in existence for nearly 40 years and this makes the most of existing facilities. This project will be built within the existing footprint and fence line of an industrial site. There is no need for additional pipelines, storage tanks or permanent piers, thus limiting its impact and making an environmental assessment appropriate," Leopold said.

The release of the FERC Environmental Assessment, which is available at http://elibrary.FERC.gov/idmws/file_list.asp?accession_num=20140515-4002, begins a 30-day public comment period. The FERC also announced that a public comment meeting on the assessment would occur May 31 in Calvert County.

Cove Point is the fourth liquefied natural gas export project to receive an environmental document from the FERC. The cooperating agencies that participated in the FERC Environmental Assessment for the Cove Point export project were: the Department of Energy; the Army Corps of Engineers; the Department of Transportation, including the Pipeline and Hazardous Materials Safety Administration; the Coast Guard; and the Maryland Department of Natural Resources.

The Environmental Assessment examined the potential impacts of the proposed project, including a thorough evaluation of the project's impact on public safety, air quality, water resources, geology, soils, wildlife and vegetation, threatened and endangered species, land and visual resources, cultural resources, noise, cumulative impacts and reasonable alternatives.

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