BHE to Manage Cove Point

Berkshire Hathaway to Manage Cove Point Operations (NGI)
Jamison Cocklin (July 06): Berkshire Hathaway Energy (BHE) will take over operations of the Cove Point LNG export terminal after it agreed to acquire a 25% stake in the facility as part of a broader $9.7 billion deal to buy Dominion’s natural gas transmission and storage assets. Dominion will retain a 50% passive interest in the terminal located on the Chesapeake Bay. Dominion is divesting the transmission and storage assets as it plans to focus entirely on its state-regulated electricity and natural gas utilities. The deal is expected to close in Q4 2020. The BHE deal follows another late last year, when Dominion sold a 25% stake to Brookfield Asset Management in a deal valued at more than $2 billion. Link to Content

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