Dominion Energy and Berkshire Hathaway Energy have agreed to terminate the planned sale of Questar Pipelines to Berkshire Hathaway Energy, due to ongoing uncertainty associated with achieving clearance from the Federal Trade Commission.
Questar Pipeline Company provides natural gas transportation and underground storage services from the Rocky Mountains region.
Dominion Energy said it is commencing a competitive process for the sale of Questar Pipelines, with a target close of year-end 2021.
Following the decision to call off the deal, Dominion Energy will continue to account for Questar Pipelines as discontinued operations and will enter into a 364-day term loan. The company will use proceeds from the loan to repay the $1.3 billion transaction deposit made by Berkshire Hathaway Energy.
That loan is expected to be repaid by the end of 2021, with proceeds from the sale of Questar Pipelines to an alternative buyer.
