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  • Dominion Cove Point Export Project

    Platts 16th Annual Liquefied Natural Gas February 9, 2017

  • Note to Investors

    2

    This presentation contains certain forward-looking statements, including projected future dividend growth rates and operating

    earnings growth rates which are subject to various risks and uncertainties. Factors that could cause actual results to differ

    materially from management's projections, forecasts, estimates and expectations may include factors that are beyond the

    company's ability to control or estimate precisely, fluctuations in energy-related commodity prices, estimates of future market

    conditions, access to and costs of capital, fluctuations in the value of our pension assets and assets held in our

    decommissioning trusts, the receipt of regulatory approvals for, and timing of, planned projects, acquisitions and divestitures,

    and the ability to complete planned construction or expansion projects within the terms and timeframes initially anticipated.

    Other factors include, but are not limited to, weather conditions, including the effects of hurricanes, earthquakes, high winds and

    major storms on operations, the risks associated with the operation of nuclear facilities, unplanned outages of Dominions

    generation facilities, state and federal legislative and regulatory developments and changes to environmental and other laws and

    regulations, including those related to climate change, greenhouse gases and other emissions to which we are subject, political

    and economic conditions, industrial, commercial and residential growth or decline in Dominions service territory, risks of

    operating businesses in regulated industries that are subject to changing regulatory structures, changes to regulated gas and

    electric rates collected by Dominion, changes to rating agency requirements and ratings, changing financial accounting

    standards, fluctuations in interest rates, changes in federal and state tax laws, employee workforce factors, including collective

    bargaining, counter-party credit and performance risk, risks related to energy trading and marketing, adverse outcomes in

    litigation matters, the risk of hostile cyber intrusions and other uncertainties. Other risk factors are detailed from time to time in

    Dominions most recent quarterly report on Form 10-Q or annual report on Form 10-K filed with the Securities and Exchange

    Commission.

    Projections or forecasts shown in this document are based on the assumptions listed in this document and are subject to change

    at any time. Dominion undertakes no obligation to update any forward-looking information statement to reflect developments

    after the statement is made. In addition, certain information presented in this document incorporates planned capital

    expenditures reviewed and endorsed by Dominions Board of Directors in late 2011. Dominion undertakes no obligation to

    update such planned expenditures to reflect plan or project-specific developments, including regulatory developments, or other

    updates until the following annual update for the plans. Actual capital expenditures may be subject to regulatory and/or Board of

    Directors approval and may vary from these estimates.

  • Nature Preserve on the Bay

    Facility Fence Boundary

    Land Owned by Dominion or Under County Control

    3

  • Cove Point LNG History

    Mid-1970s Cove Point LNG designed and built

    1978 Import operations commenced

    1980 Import service ceased and placed in stand-by status

    1994 Authorized to reactivate to provide peaking storage

    2002 Dominion acquired the terminal

    2003 Commercial LNG imports commenced

    2004 Fifth LNG tank placed in service

    2008 Facility expansion finished

    2011 Pier expansion finished

    2011 Export project announced

    4

  • Business Development Marketing

    5 5

    Existing import terminal

    1.8 Bcf/d send out capacity

    14.6 Bcf LNG storage

    Adding liquefaction equipment for 5.25 mtpa

    Providing a bidirectional LNG processing service Dominion not buying gas or selling LNG

    Estimated project cost: $3.4 - $3.8B exclusive of financing costs

    20-year terminal service agreements (TSAs)

    Expected In-service date September 2017

  • Business Development Timeline

    6 6

    Early 2011 began international marketing: China, Japan, Korea, Italy, Thailand, UK, India, others

    Late 2011 to mid 2012 primary negotiations with Japanese companies.

    Mid 2012 to early 2013 Complete negotiations

    Pacific Summit Energy (US affiliate of Sumitomo Corporation)

    Offtake Agreements with: Tokyo Gas Co.

    Kansai Electric Power Co.

    GAIL Global (USA) LNG LLC (US affiliate of GAIL (India) Ltd.)

    Largest natural gas processing and distribution company in India

  • Approvals Timeline

    10/2011 Filed DOE Export Application for NFTA Countries

    6/2012 Submitted FERC Pre-Filing

    1/2013 Completed Front-End Engineering and Design (FEED) Study

    4/2013 Signed 20 year Terminal Service Agreements

    Filed FERC Application

    Filed Air Permit

    Executed an EPC Agreement w/IHIK

    Sept 2013 DOE Non-FTA Approval

    5/15/2014 FERC Environmental Assessment Issued

    9/29/2014 FERC Approval to Construct

    10/2/2014 Construction Commences

    Late 2017 Target In-Service

    7 7

  • Innovative Technologies

    8 8

    Parallel refrigeration compressor strings

    Highly efficient on-site power generation system

    New main cryogenic heat exchanger cool down procedure

    Recycling feed gas during startup to minimize the potential for flaring

    Closed loop dehydration regeneration system

    Zero liquid discharge processing facilities

    Noise mitigation

  • Innovative Technologies

    9 9

    Parallel string arrangement (2x50%) o Single string operation (MR & PR on same shaft line)

    GE Frame 7EA driver Three large casing compressors (3MCL1405 + MCL1405 +

    2BCL806) 20 MW helper motor

  • Innovative Technologies

    10 10

    Front end recycling feed gas and Liquefaction Cool Down

  • Innovative Technologies

    11 11

    High Efficiency on-site Power Generation

    Waste heat produces all the electric power necessary for the liquefaction process

    2 Steam Turbine Generators produce up to 100 MW

    Heat Recovery Steam Generators (HRSG) on both GT exhausts produce steam for power and process use

    Startup and supplemental steam is provided by 2 auxiliary boilers

  • 12

    Facility Construction Jan 2017

    November 2, 2016

  • 13

    Off-Site Area A - Site Support Services

    Craft Parking

    Bus Loop

    Offices & Training Staging & Laydown

    Material Receipt

    Staging & Laydown

    November 2, 2016

  • Equipment Deliveries

    14

    Main Cryogenic Heat Exchanger

    14

  • Construction

    15

    Main Cryogenic Heat Exchanger - 72 Mixed Refrigerant Pipe Spool

  • Construction

    16

    Main Liquefaction Rack

  • Construction

    17

    Mole Sieve Dehydrators

  • Terminal Construction - Labor

    Construction Workforce

    On-site workforce Staff - 671

    Direct Hire Craft 2,205

    Sub-Contractors 422

    Local Workforce ~ 35%

    Expect direct hire craft to peak at ~3,000

    18

  • Finished Project

    19

    Rendering - Finished Facility December 2017

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