Dominion Resources files for IPO of pipeline limited partnership

|About: Dominion Resources, Inc. (D)|By:, SA News Editor

Dominion Resources (D -0.2%) says its Dominion Midstream Partners subsidiary filed to raise $400M via an IPO; the figure is a placeholder used to calculate fees and thus may change.

Dominion Midstream will receive preferred equity interest from Dominion'€™s Cove Point storage facility and pipeline in Maryland, whose customers include BP, Shell and Statoil, which pay annual fees to use the pipeline.

The subsidiary plans to apply to list its units on the NYSE under the symbol DM.