Cabot to Supply Gas to Dominion Cove Point LNG Terminal
Cabot Oil & Gas Corporation signed a definitive gas sale and purchase agreement with Pacific Summit Energy, a wholly owned subsidiary of Sumitomo Corporation, under which Cabot has agreed to sell 350,000 MMBtu per day of natural gas from its Marcellus Shale position for a term of 20 years commencing on the in-service date of the Dominion Cove Point LNG liquefaction project currently scheduled for 2017.
“We are extremely excited to be partnering with Sumitomo to provide a long-term source of natural gas to the Cove Point LNG facility and ultimately to the people of Japan,” said Dan O. Dinges, Chairman, President and Chief Executive Officer. “This long-term firm sales agreement is another milestone for Cabot’s marketing efforts and ensures the continuing development of our Marcellus Shale position in Northeast Pennsylvania for years to come.”
LNG World News Staff, December 19, 2013; Image: Dominion