Following a robust, competitive sale process, Dominion Energy has executed a definitive agreement to sell its 50 percent noncontrolling limited partner interest in Cove Point LNG to Berkshire Hathaway Energy for $3.5 billion.
Cove Point LNG is a fully operational import, export and liquefaction facility located in Lusby, Md. The facility is owned by Dominion Energy and Brookfield Asset Management; however, Berkshire Hathaway Energy currently operates the facility and owns a 100 percent general partner and 25 percent limited partner interest.
“Since 2002, Cove Point has been an excellent service provider to its international and domestic customers — linking global gas supplies with American customers, and American gas supplies with customers around the world,” said Robert Blue, chair, president and CEO of Dominion Energy. “However, this investment is noncore to Dominion Energy as we focus on our state-regulated utility operations. The sale demonstrates our commi