These are not the choicest assets—unless Warren is planning to take what started as the Enron stub* nationwide—in which case he'll be spending another couple hundred billion dollars.He really bought a bit of a hodge-podge including a 1/4 interest in one of the American LNG export/import facilities.
What it means though is that someone familiar with the business is seeing some value....
From LNG Global, July 5:
Berkshire Hathaway Energy to Acquire 25% of Cove Point LNG
Berkshire Hathaway Energy announced today it has executed an agreement to acquire Dominion Energy’s natural gas transmission and storage business. Berkshire Hathaway Energy will acquire 100% of Dominion Energy Transmission, Questar Pipeline and Carolina Gas Transmission; and 50% of Iroquois Gas Transmission System.
As part of the deal Berkshire Hathaway Energy will acquire 25% of Cove Point LNG. Cove Point LNG is an export, import and storage facility located on the Chesapeake Bay in Lusby, Maryland. Dominion Energy will continue to own 50% of Cove Point, with Brookfield Asset Management continuing to own the remaining 25% share. Berkshire Hathaway Energy will operate the Cove Point facility once the transaction closes. The Cove Point facility has a nameplate capacity of 5.25 mtpa of LNG....MORE
