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Environment & Energy Report

Utility Giant Kills Gas Pipeline, Sells Assets to Berkshire (3)

July 6, 2020, 11:15 PM

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.

In a separate statement, Dominion and its partner Duke Energy Corp. said they’re killing the controversial Atlantic Coast gas pipeline along the U.S. East Coast, citing ongoing delays and “cost uncertainty.”

The moves come...

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