- Associated Press - Wednesday, December 17, 2014

RICHMOND, Va. (AP) - Energy provider Dominion Resources Inc. is planning to buy Carolina Gas Transmission for about $492.9 million.

Carolina Gas Transmission owns and operates nearly 1,500 miles of natural gas pipeline in South Carolina and southeastern Georgia.

The deal is subject to a federal antitrust review. Dominion plans to close the acquisition in January.

Dominion CEO Thomas Farrell II called the acquisition a compelling strategic opportunity as the Richmond-based company expands its regulated natural gas businesses into the Southeast.

As part of the agreement, Dominion is offering continued employment for Carolina Gas Transmission’s 120-person workforce and has committed to an extended period of rate stability for current customers.

Carolina Gas Transmission is owned by South Carolina-based SCANA Corp. Dominion Resources Inc. is one of the nation’s largest producers and transporters of energy.


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