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Stock Market & Financial Investment News

News Breaks
June 3, 2014
09:55 EDTDDominion seeks approval for projects to move natural gas to market
Dominion announced that yesterday it asked the Federal Energy Regulatory Commission, or FERC, to approve two projects that would provide additional natural gas supplies from the Appalachian Region. The New Market project in upstate New York would improve access for National Grid to meet its customers' growing demand for natural gas, while the Clarington project in West Virginia provides a route to transport gas supplies out of the Appalachian basin to market. The approximate costs of these two projects are $235M.
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October 30, 2014
08:40 EDTDDominion begins construction activities for Cove Point LNG export project
Dominion has begun construction-related activities for the Cove Point Liquefied Natural Gas Export project. Leopold noted that the project underwent a comprehensive three-year regulatory review and approval process designed to ensure the project meets all safety, environmental and other requirements. Construction activities have begun at the LNG terminal with initial preparations for worksite clearing and grading. Activities were initiated earlier this month at two off-site locations, a temporary pier being built on the Pautuxent River to receive barge shipments of large equipment and a temporary location for offices, material staging and parking for project construction workers. The Cove Point LNG Export project is estimated to cost between $3.4 billion and $3.8 billion and will create thousands of skilled construction jobs, 75 permanent jobs and an additional $40 million in annual tax revenue to Calvert County. The county today receives $15.7 million a year from the LNG import facility. The proposed export facility will be within the 131-acre footprint of the existing LNG terminal site. No new pipelines or storage tanks are needed at the facility. It is targeted to begin operations in late 2017.

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