OMAHA, Neb. — The purchase of a natural gas pipeline from Dominion Energy by Warren Buffett’s firm has been canceled due to uncertainties over whether the agreement will be approved by regulators.
Separate from the Questar pipeline transaction, Berkshire purchased Dominion’s natural gas transmission and storage assets for $2.7 billion last year, including about 5,500 miles of natural gas transmission pipes and 775 billion cubic feet of gas storage facilities. As part of the deal, Berkshire acquired $5.3 billion of Dominion debt.
Berkshire Hathaway, located in Omaha, Nebraska, controls more than 90 firms, including many major utilities, the BNSF railroad, big insurance companies such as Geico, and a variety of retail and manufacturing businesses. Berkshire Hathaway also has significant shares in Apple, Bank of America, Coca-Cola, and other firms.