TRP:CC - Cove Point LNG feedgas cut in half after Columbia Gas pipeline fire
2023-07-26 12:34:54 ET
The shutdown of part of TC Energy's ( NYSE: TRP ) Columbia Gas Transmission Pipeline in Virginia after a fire has reduced feedgas flows to the Cove Point liquefied natural gas export plant in Maryland, Reuters reported Wednesday.
Berkshire Hathaway Energy ( NYSE: BRK.A ) ( NYSE: BRK.B ), which operates Cove Point LNG, reportedly told customers that gas supplies from Columbia Gas's Loudoun LNG interconnect were currently at or near zero.
Cove Point LNG, which can obtain gas from other pipelines, reportedly was on track to pull in ~400M cf/day of gas on Wednesday, well below an average of 800M cf/day in the months prior to the Columbia pipeline incident on Tuesday.
Columbia Gas had declared force majeure and isolated a section of its pipeline after detecting a pressure drop due to an unplanned incident in Strasburg, Virginia.
Earlier this month , Berkshire Hathaway ( BRK.A ) ( BRK.B ) agreed to buy Dominion Energy's 50% stake in the Cove Point LNG plant in a deal valued at $3.3B.
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Cove Point LNG feedgas cut in half after Columbia Gas pipeline fire