Dominion Energy mulls divesting stake in Cove Point LNG project.

Dominion Energy is reportedly considering the sale of its half stake in the Cove Point LNG project, a gas liquefaction unit in Lusby, MD, US. With this, the firm is engaging with advisers to seek interest from infrastructure funds and other possible suitors, according to Bloomberg News. Dominion Energy's stake in the liquefied natural gas (LNG) facility in the Chesapeake Bay could have multibillion-dollar value. At present, talks about the stake sale are at an initial phase, and Dominion Energy may still decide to retain the half stake. The Cove Point LNG project is run by Berkshire Hathaway's BHE GT&S, which holds a 25% stake. The remaining 25% stake is owned by Brookfield Asset Management. The project is said to be the first such unit on the US East Coast. It has a storage capacity of 14.6 bn cubic feet (BCF) and daily send-out capacity of 1.8 BCF. Original Source: NS Energy, http://www.nsenergybusiness.com">http://www.nsenergybusiness.com.