Dominion has initiated a program to purchase up to $50 million of common units representing limited partner interests in Dominion Midstream Partners, the owner of the Cove Point LNG import terminal.
Common units may be acquired by Dominion over the next 12 months at the discretion of management, the company said in a statement.
Purchases under the program would be funded from available working capital, and the purchased units would be held by Dominion or a subsidiary of Dominion other than Dominion Midstream.
Dominion currently owns 11,847,789 Dominion Midstream common units representing limited partner interests.
Image: Dominion Midstream Partners