Dominion Is Said to Mull Sale of Stake in Cove Point LNG Plant

Dominion Energy Inc., a utility weighing asset sales after its shares slumped this year, is exploring the divestment of its multi-billion-dollar stake in the Cove Point LNG facility on the Chesapeake Bay, according to people with knowledge of the matter.

The Richmond, Virginia-based company is working with advisers to solicit interest from potential suitors including infrastructure funds, said the people, who requested anonymity as the effort isn’t public. Talks are at an early stage, and Dominion could still decide to hold onto the 50% stake, the people said.

A representative for Dominion declined to comment.

Cove Point is ...