Rumor: Dominion Mulls Sale of Remaining 50% Share in Cove Point LNG

Bloomberg is reporting that "sources" are chattering that Dominion Energy, the majority owner of Cove Point, Maryland, LNG export facility with a 50% stake in the plant, is considering selling its stake. In July 2020, Dominion sold its natural gas pipeline business along with a 25% stake in Cove Point to Warren Buffett's Berkshire Hathway (see Dominion Cancels Atlantic Coast Pipe, Sells Pipe Biz for $9.7B). Berkshire Hathaway actually took over the day-to-day operation of the plant, even though it is a minority owner. The other 25% of Cove Point is owned by investment firm Brookfield Asset Management. It appears Dominion is seriously considering dumping its 50% stake in the project.

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