By Michael Dabaie

Dominion Energy said it expects its pending sale of its gas transmission and storage assets to an affiliate of Berkshire Hathaway Inc., excluding Questar Pipelines, to close around Nov. 1.

Dominion Energy said it will receive about $2.7 billion in cash and transfer $5.3 billion of existing Dominion Energy Gas Holdings related indebtedness at closing.

Dominion said it expects to complete the sale of Questar Pipelines to Berkshire Hathaway Energy upon receipt of Hart-Scott-Rodino clearance in early 2021. Under that deal, Dominion Energy would receive about $1.3 billion in cash and transfer around $430 million of existing Questar Pipelines indebtedness

The companies agreed to a dual-phase closing because of updated timing expectations for receipt of the HSR clearance from the Federal Trade Commission related to the sale of Questar Pipelines. Since all closing conditions have been met for non-Questar Pipelines assets, Dominion and Berkshire opted to move forward with an initial closing to be followed with a subsequent Questar Pipelines closing in early 2021.

Based on year-to-date performance, Dominion Energy said it now expects 2020 operating earnings per share, normalized for weather, to be in the top half of its $3.37 to $3.60 guidance range. Dominion affirmed all other earnings and dividend guidance.

Write to Michael Dabaie at michael.dabaie@wsj.com