- Associated Press - Tuesday, February 3, 2015

RICHMOND, Va. (AP) - Energy provider Dominion Resources Inc. has completed its purchase of Carolina Gas Transmission for about $492.9 million.

The Richmond-based company says the acquisition includes nearly 1,500 miles of natural gas pipeline in South Carolina and southeastern Georgia that were owned and operated by Carolina Gas Transmission.

CEO Thomas Farrell II has called the acquisition a compelling strategic opportunity as Dominion 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.

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

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More

Click to Hide