the common party, Dominion, also offers some interesting flavor here.
Cove Point was a homerun project for them, and done at a time when LNG public&investor sentiment was poor and only badly managed players like Cheniere were deploying capital into this space. (pointedly, brookfield and berkshire were not interested then and are NOW willing to payup)

and of course the opportunity set for D is also huge, as energy is not just a subsidiary.
on one hand, D may have a regional edge for regulated projects, and their core customer region is highly attractive in general.
on the other hand, D is the opposite of being awash in capital. am sure D preferred some party grossly overpaying for Cove Point, but had to settle for a reasonable transaction due to their overall debt and the sheer volume of future capex to select from.

finally, the mkt certainly seems to feel D just got lucky, and will never approach the success of Cove Point no matter how many other projects they have to choose from.