Dominion Energy Announces Closing of Sale of Questar Pipelines to Southwest Gas

Rhea-AI Summary

Dominion Energy (NYSE: D) announced the successful closing of the $1.975 billion sale of Questar Pipelines to Southwest Gas Holdings (NYSE: SWX). The deal, finalized on December 31, 2021, includes the assumption of $430 million in debt. Questar Pipelines features FERC-regulated transportation and underground storage assets located in Utah, Wyoming, and Colorado. This sale is part of Dominion Energy's strategy to streamline operations and focus on sustainable energy.

Positive

• Transaction valued at $1.975 billion, enhancing liquidity.
• Focus on sustainable energy after asset sale.

Negative

• Assumption of $430 million in existing debt by buyer may impact future cash flows.

RICHMOND, Va., Dec. 31, 2021 /PRNewswire/ -- Dominion Energy (NYSE: D) today announced that it has closed the sale of Questar Pipelines to Southwest Gas Holdings, Inc. (NYSE: SWX), in a transaction valued at $1.975 billion, including the assumption of $430 million of existing debt. This transaction was previously announced Oct. 5, 2021.

Questar Pipelines consists of FERC-regulated, long-term contracted transportation and underground storage assets in Utah, Wyoming and Colorado, together with related services and processing entities.

About 7 million customers in 13 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to sustainable, reliable, affordable and safe energy and to achieving net zero carbon dioxide and methane emissions from its power generation and gas infrastructure operations by 2050. Please visit DominionEnergy.com to learn more.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/dominion-energy-announces-closing-of-sale-of-questar-pipelines-to-southwest-gas-301452338.html

SOURCE Dominion Energy

FAQ

What is the value of the Questar Pipelines sale from Dominion Energy?

The sale of Questar Pipelines to Southwest Gas Holdings was valued at $1.975 billion.

When was the sale of Questar Pipelines to Southwest Gas Holdings finalized?

The sale was finalized on December 31, 2021.

How much debt was assumed in the Questar Pipelines sale?

The transaction included the assumption of $430 million in existing debt.

What assets are included in the Questar Pipelines sale?

Questar Pipelines consists of FERC-regulated transportation and underground storage assets in Utah, Wyoming, and Colorado.

Which companies are involved in the Questar Pipelines transaction?

The transaction involves Dominion Energy and Southwest Gas Holdings.