Berkshire Hathaway Energy Now Owns 75% of Cove Point LNG

In July 2020, Dominion Energy announced it had decided to exit the natural gas pipeline business by selling it to Warren Buffett’s Berkshire Hathaway Energy (see Dominion Cancels Atlantic Coast Pipe, Sells Pipe Biz for $9.7B). Part of the deal involved selling a 25% interest in the Cove Point LNG export facility to Berkshire Hathaway, transferring responsibility for operations to Berkshire (see Warren Buffett’s Berkshire Hathaway Now Runs Cove Point LNG!). In July, both Dominion and Berkshire announced a deal for Berkshire to buy out Dominion’s remaining 50% share in Cove Point for $3.3 billion (see Dominion Sells Remaining 50% Share in Cove Point LNG to Buffett). According to a Berkshire announcement issued Friday, the deal is now down.

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