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Berkshire Hathaway´s Energy company to Acquire Dominion Energy´s Gas Transmission and Storage Business in USD 9.7bn Transaction
Tuesday 07 July 2020

Iowa, US-based energy portfolio Berkshire Hathaway Energy has executed a definitive agreement to acquire the natural gas transmission and storage business of Virginia-based Dominion Energy in a deal valued at USD 9.7bn, the company said.

The assets include over 7,700 miles of natural gas transmission lines, with approximately 20.8bn cubic feet per day of transportation capacity and 900bn cubic feet of operated natural gas storage with 364bn cubic feet of company-owned working storage capacity, and partial ownership of a liquefied natural gas export, import and storage facility.

As part of the transaction, Berkshire Hathaway Energy will acquire 100% of Dominion Energy Transmission, Questar Pipeline and Carolina Gas Transmission; and 50% of Iroquois Gas Transmission System. The agreement does not include acquisition of the Atlantic Coast Pipeline.

Additionally, the company will acquire 25% of Cove Point LNG an LNG export, import and storage facility in Maryland.

Berkshire Hathaway Energy is a USD 100.8bn portfolio of locally managed businesses that deliver services to more than 12m electric and natural gas customers. Berkshire Hathaway Energy is a subsidiary of Warren Buffett's Berkshire Hathaway Inc.

More than 7m customers in 20 states energise their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D).
Date Published: 07/07/2020