Tokyo Gas, Sumitomo to start talks to buy U.S. LNG

Japan's Tokyo Gas and trading house Sumitomo Corp said on Friday they would make a joint announcement on the start of talks to buy liquefied natural gas (LNG) from the Cove Point project in the United States at 11 a.m., Reuters reports. Dominion Resources wants to convert the Cove Point terminal in Maryland from an import terminal to an export plant that would ship up to 1 billion cubic feet of cheap U.S. natural gas a day to foreign markets where it would fetch a higher price.