The Oracle Doubles Down

 The Oracle Doubles Down

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  • Berkshire Hathaway Energy has agreed to acquire a 50% stake in the  in the Cove Point liquefied natural gas facility for $3.3 billion in cash. As a result of this transaction, Berkshire Hathaway Energy will become the majority owner of Cove Point LNG, holding a 75% limited partnership stake. The remaining 25% will be held by a subsidiary of Brookfield Infrastructure Partners. 
  • Berkshire Hathaway Energy, a division within Berkshire Hathaway, is one of the nation's leading electric utilities. In addition to its electric utility operations, Berkshire Hathaway Energy also holds significant assets such as natural-gas pipelines, a prominent real estate brokerage business, and has made notable investments in BYD, the Chinese electric vehicle manufacturer.

Why it matters

By acquiring a stake in the Cove Point LNG facility, Berkshire Hathaway Energy expands its portfolio to include a significant asset in the LNG industry. This investment broadens its presence in the energy market and offers potential growth opportunities.


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