Cabot to Supply Gas for LNG Export from Cove Point Terminal
Posted on Dec 20, 2013 in LNG Exports, Markets and Competition | Comments Off on Cabot to Supply Gas for LNG Export from Cove Point Terminal
Cabot Oil & Gas Corporation announced that it has executed a definitive gas sale and purchase agreement with Pacific Summit Energy LLC (Pacific Summit), a wholly owned subsidiary of Sumitomo Corporation. Under the agreement, Cabot will sell 350,000 MMBtu/day of natural gas from its Marcellus Shale position to Pacific Summit. The agreement has a 20-year term, commencing on the in-service date of the Dominion Cove Point LNG export terminal, currently scheduled for 2017. Pacific Summit holds one half of the export capacity of the Cove Point export terminal under a 20-year contract.