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Dominion completes sale of 25% stake in Cove Point for $2.1B

Dominion Energy Inc. on Dec. 20 said it completed the sale of a 25% noncontrolling equity stake in its Cove Point LNG facility in Maryland to Brookfield Asset Management Inc. affiliate Brookfield Super-Core Infrastructure Partners LP for about $2.1 billion.

The transaction, which is part of Dominion Energy's plans to establish a permanent capital structure for Cove Point, would help the company draw down its relatively high parent-level debt.

Dominion Energy Cove Point LNG LP owns an LNG import, export and storage facility on the Chesapeake Bay in Lusby, Md., as well as a 136-mile pipeline.