Billionair Buffett's Berkshire to buy Dominion Energy gas assets for US$4bil

The transaction announced on Sunday includes more than 7,700 miles (12,390 km) of natural gas transmission lines and 900 billion cubic feet of gas storage.

Berkshire Hathaway Inc said its energy unit will buy Dominion Energy Inc's natural gas transmission and storage network for $4 billion, helping billionaire Chairman Warren Buffett (pic) reduce his conglomerate's cash pile while letting Dominion focus on utilities operations.

The transaction announced on Sunday includes more than 7,700 miles (12,390 km) of natural gas transmission lines and 900 billion cubic feet of gas storage.