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Utility Giant Kills Gas Pipeline, Sells Assets to Berkshire

  • Dominion, Duke Energy cancel planned Atlantic Coast project
  • Dominion will retain interest in LNG terminal in Maryland
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Watch: Warren Buffett’s Berkshire Hathaway has agreed to buy Dominion Energy’s natural gas transmission and storage business in a deal with an enterprise value of $9.7 billion.(Source: Bloomberg)
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One of the largest utilities in America is starting to turn its back on natural gas.

Dominion Energy Inc., the second-biggest U.S. power company by market value, on Sunday said it’s selling substantially all of its gas pipeline and storage assets to Berkshire Hathaway Inc. for $4 billion. It’s the largest deal announced this year to buy U.S. energy assets, according to Bloomberg data.