Dominion receives Maryland's approval of Cove Point LNG export project Dominion said it has received from the Maryland Public Service Commission a Certificate of Public Convenience and Necessity, CPCN, related to the company's plan to add export capability at its Cove Point liquefied natural gas facility in Calvert County. The certificate was needed for two 65-megawatt steam turbine generators that produce electricity. The waste heat from two combustion turbines, which are used to drive compressors to produce LNG, will be recycled to produce steam to drive the steam turbines.
Dominion resumed with a Buy from Neutral at Citigroup Citigroup upgraded Dominion Resources to Buy after resuming coverage of the stock and raised its price target for shares to $85 from $74. Citi also added the name to its Focus List. The firm expects drop downs to drive strong cash flows for Dominion.