Berkshire Hathaway Energy has executed an agreement to purchase Dominion Energy’s 50% stake in the 5.25 Mt/year (7.09 bcm/year) Cove Point LNG export plant located near Lusby, Maryland, United States for US$3.3bn in cash. Commissioned in 2018, the terminal connects, via its own pipeline, to the major Mid-Atlantic gas transmission systems of Transcontinental Gas Pipeline, Columbia Gas Transmission and Eastern Gas Transmission and Storage.
Berkshire Hathaway Energy already had operational control of the plant, and a 25% interest acquired in July 2020. Upon closing, Berkshire Hathaway Energy will own a 75% stake in Cove Point LNG, together with a subsidiary of Brookfield Infrastructure Partners, which holds the remaining 25% interest.
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