Cabot Signs Deal to Export Gas via Cove Point, MD

The good news continues to roll out of Cabot Oil & Gas. In a corporate updated issued yesterday, the company said they’ve signed a deal with Pacific Summit Energy (a subsidiary of Japanese company Sumitomo) to export up to 350,000 million Btus of natural gas per day via Dominion’s planned Cove Point, MD LNG export facility. The Cove Point facility is currently supposed to be in operation in 2017. The deal runs for 20 years. Previously, MDN told you that Japan and India have already spoken for 100% of LNG exports from Cove Point (see Dominion’s Cove Point LNG Facility Achieves Important Milestones).

In what seems to be unrelated but actually is related, Cabot also said they’ve achieved another milestone–they now produce 1.5 billion cubic feet of natural gas per day out of their wells in Susquehanna County, PA. That’s just one year after hitting 1 Bcf/d! So in one year production has skyrocketed another 50%. Truly astonishing. How much of today’s current production is Cabot committing to send overseas?…

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