Business Services Industry
Dominion, Statoil Reach Agreement on Maryland Liquefied Natural-Gas Terminal.
Knight Ridder/Tribune Business News, June, 2004
By Greg Edwards, Richmond Times-Dispatch, Va. Knight Ridder/Tribune Business News
Jun. 15--Dominion Resources Inc. and Statoil ASA have agreed on a 20-year contract that gives Statoil access to Dominion's Cove Point liquefied natural-gas terminal in Maryland.
Dominion is a Richmond-based energy company that is the parent of Dominion Virginia Power. Statoil is an international oil and natural gas company with headquarters in Norway. The two companies had signed a letter of intent in February to give Statoil access to increased capacity at Cove Point.
The deal will increase fourfold Statoil's access to liquefied natural-gas capacity in the United States. Statoil will buy liquefied natural gas to run through the terminal until its own...
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