Natural Gas News – July 6, 2020
Warren Buffett’s Berkshire Buys Dominion Energy Natural Gas Assets in $10 Billion Deal
Warren Buffett’s Berkshire Hathaway is finally pulling the trigger. The conglomerate is spending $4 billion to buy the natural gas transmission and storage assets of Dominion Energy. Including the assumption of debt, the deal totals almost $10 billion. It’s Berkshire’s first major purchase since the coronavirus pandemic and subsequent market collapse in March. At his annual shareholder meeting in May, Buffett revealed that Berkshire had built up a record $137 billion cash hoard as financial markets tanked and that he hadn’t seen many favorable deals, despite the stock market’s swoon. “We have not done anything because we don’t see anything that attractive to do,” Buffett said at the time, suggesting that the quick actions taken by the Federal Reserve this year meant companies could get more access to financing in the public markets than they could during the financial crisis in 2008 and 2009.For more on this story visit cnbc.com or click https://cnb.cx/2O1XSXT.
U.S. Dominance In The Natural Gas Sector Is Growing
This article is the third in a series on the BP Statistical Review of World Energy 2020. The Review provides a comprehensive picture of supply and demand for major energy sources on a country-level basis. Previous articles covered overall energy consumption and petroleum supply and demand. Today, I want to cover the production and consumption of natural gas. Natural gas is the cleanest of the fossil fuels. It is also fastest-growing fossil fuel, with a global 2.6% average annual growth rate over the past decade. In comparison, oil grew at a rate of 1.3% over the past decade, and coal grew globally at 0.8%. Looking ahead, natural gas is projected to be the only fossil fuel that will see substantial demand growth over the next two decades. For more on this story visit forbes.com or https://bit.ly/3e10r7b.
This article is part of Daily Natural Gas Newsletter
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