(Bloomberg) -- Berkshire Hathaway has agreed to buy Dominion Energy’s natural gas transmission and storage business in a deal with an enterprise value of $9.7 billion.

According to a statement, the assets include more than 7,700 miles of natural gas transmission lines with about 20.8 billion cubic feet per day of transportation capacity.

Dominion will use $3 billion of the proceeds to buy back shares.

Warren Buffett’s conglomerate will also acquire 25% of Cove Point LNG, a natural gas company in Maryland that Dominion will continue to own half of.

©2020 Bloomberg L.P.