Dominion Energy, Inc., headquartered in Richmond, VA, is a North American power and energy company that provides electricity and natural gas in 16 states. The company’s asset portfolio includes over 27,000 megawatts of power generation, and more than 6,000 miles (9,700 km) of electric transmission lines, 54,000 miles (87,000 km) of distribution lines, 14,000 miles (23,000 km) of natural gas transmission, gathering and storage pipeline, and 1.2 trillion cubic feet (34 km3) equivalent of natural gas and oil reserves. Dominion also operates the nation’s largest natural gas storage facility, with a capacity of over 975 billion cubic feet (2.761010 m3). The company’s Cove Point liquefied natural gas (LNG) import terminal on the Chesapeake Bay is one of the largest and busiest of its kind in the United States. Dominion serves over 7 million retail energy customers in the Midwest, Mid-Atlantic, and Northeast of the United States.
Dominion was ranked #238 on the Fortune 500 in 2017. Throughout the 1980s and 1990s, Dominion initiated a series of domestic and international expansions into regulated and non-regulated energy businesses. During that time, the company also established itself as a world-class nuclear power station operator.
Dominion purchased Consolidated Natural Gas Company (CNG) of Pittsburgh in 2000, adding natural gas service to its energy delivery network in the Northeastern quadrant of the United States’ energy-intensive markets. Dominion purchased Louis Dreyfus Natural Gas Company in 2001, expanding its natural gas delivery network.
In order to create a more unified energy company, Dominion rebranded all its operations in 2000 to Dominion. Dominion sold most of its Houston-based natural gas and oil exploration and production business for nearly $14 billion in pre-tax proceeds in 2007, as part of another effort to refocus on core electric and gas operations. It sold its onshore US oil and gas reserves to Loews Corporation and XTO Energy separately. In contrast, it sold its Gulf of Mexico reserves to Eni, and its Canadian reserves to two Canadian trusts. However, Dominion still has some production areas in Appalachia. In September 2016, the company acquired Questar Corporation in the Western United States, including parts of Utah and Wyoming. Dominion Resources rebranded to Dominion Energy in 2017, along with a new logo. Reuters reported in January 2018 that Dominion Energy would purchase SCANA Corporation for $7.9 billion; the transaction was completed in January 2019. Dominion announced plans in July 2020 to sell natural gas transmission and storage assets to Berkshire Hathaway for an estimated $10 billion.
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