Maryland LNG terminal draws fire

Advocates file complaint with SEC over environmental risks.
By Daniel J. Graeber Follow @dan_graeber Contact the Author   |   May 7, 2014 at 9:54 AM
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WASHINGTON, May 7 (UPI) -- A company seeking to export liquefied natural gas from a Maryland point withheld evidence about the environment risks, environmental groups said.

The Department of Energy in September approved an application from Dominion Cove Point to send around 770 million cubic feet of liquefied natural gas per day to countries that don't have a free-trade agreement with the United States. It already had consent to deliver 1 billion cubic feet per day to countries with a free trade deal.

Environmental advocacy groups As You Sow, Chesapeake Climate Action Network, Earthjustice and Trillium Asset Management filed a complaint with the Securities and Exchange Commission saying Dominion withheld evidence when it filed the forms necessary for an initial public offering of stock.

The groups said in their 49-page complaint the SEC registration from Dominion "potentially" lacked a sufficient environmental risk assessment and downplayed the company's ability to "generate stable and consistent cash flow."

There was no public statement from Dominion on the complaint. The company still needs approval from the Federal Energy Regulatory Commission and the Maryland government before construction of the LNG facility begins.

A non-FTA export license is weighed against the public interest.

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