Berkshire Hathaway Completes Acquisition of Dominion's Gas Transmission Business

Updated 10 months 3 weeks ago

Berkshire Hathaway Energy has completed the purchase of Dominion Energy’s natural gas transmission and storage business, exclusive of Questar Pipeline. The transaction consideration was $8 billion, including approximately $2.7 billion in cash and the assumption of approximately $5.3 billion in debt. This includes 25% of Cove Point LNG that Berkshire Hathaway Energy will now operate. The transaction received antitrust clearance under the Hart-Scott-Rodino Act from the Federal Trade Commission in October 2020, and approval to transfer existing licenses from the Federal Communications Commission and Department of Energy earlier this year. The company's entered into a second agreement on October 5, 2020 for the purchase of Questar Pipeline which is expected to close in early 2021.