Dominion Sees Opportunity in Natural Gas Exports

By: AP
By: AP

December 6, 2012

RICHMOND, Virginia (AP)— Dominion Resources Inc. says it sees an economic opportunity in the Mid-Atlantic region following a study from the Department of Energy on exporting natural gas.

The study says that exporting natural gas would benefit the U.S. economy even if it led to higher domestic prices for the fuel.

In particular, Richmond, Virginia-based Dominion says it anticipates many local, state and national economic benefits if its Cove Point facility in southern Maryland is approved to export liquefied natural gas.

Those benefits include jobs and local property taxes. The energy provider also says the project would directly and indirectly contribute about $1 billion in additional federal, state and local government revenues annually.

Dominion is one of the nation's largest producers and transporters of energy and serves retail customers in 15 states.

Story copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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