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Industry Brief

Dominion Midstream Partners LP, formed to own the Cove Point liquefied natural gas (LNG) terminal in Maryland, raised $368 million in its debut on the New York Stock Exchange on Wednesday. The partnership issued 17.5 million common units at $21 each and said it has granted the underwriters an option to purchase an additional 2.6 million units with the expectation of raising more than $400 million (see Daily GPIOct. 9). Dominion Resources Inc., which spun off the master limited partnership would own a 68.5% interest in Dominion Midstream if the underwriters exercise their option. The partnership will also own Blue Racer Midstream LLC, Dominion Transmission and Dominion East Ohio Gas.

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