SCO - Dominion News: Buffett Buys Gas Infrastructure ACP Cancelled
While holiday weekends are normally quiet, Dominion Energy (D) made a splash on Sunday by announcing the sale of natural gas infrastructure to Berkshire Hathaway (BRK.A) (BRK.B) in a deal valued near $10 billion and simultaneously cancelling the embattled Atlantic Coast Pipeline ((ACP)) with its project partner, Duke Energy (DUK). D is selling substantially all of its natural gas transmission and storage assets as well as a 25% interest in the Cove Point LNG export facility to an affiliate of Berkshire Hathaway, as the company shifts to a state-regulated, sustainability-focused utility. Alongside the asset sale