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2/13, 7:20 PM (Source: TeleTrader)
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Dominion Energy buys stake in Atlantic Coast

Dominion Energy Inc said on Thursday it plans to buy Southern Co’s stake in the Atlantic Coast natural gas pipeline from West Virginia to North Carolina.

Dominion’s share in the pipeline will be, therefore, increased to 53%, up from 48% of the pipeline worth $8 billion. The rest of the stake will go to Duke Energy Corp.

Dominion also said it is acquiring Southern’s Pivotal LNG, liquefied natural gas distributor for marine and road transportation. The total cost of the Atlantic Coast stake and Pivotal is approximately $175 million.

Breaking the News / TF