Chesapeake Utilities sells 49% stake in Florida gas project

Dover, Delaware - Chesapeake Utilities Corporation, a diversified energy delivery company, has announced the sale of a 49% stake in the Florida Energy Pathway natural gas transmission project to NextEra Energy Resources. The agreement retains Chesapeake Utilities' 51% ownership through its subsidiary, Peninsula Pipeline Holdings.

The Florida Energy Pathway is a planned 24-inch intrastate natural gas infrastructure project stretching from Palm Beach County to Miami-Dade County. The total investment in the project is estimated at approximately $1.2 billion, contingent upon the completion of design and development activities. Chesapeake Utilities' subsidiary, Peninsula Pipeline Company, will be responsible for constructing, managing, and operating the project.

The project aims to enhance natural gas transportation capacity and alleviate regional supply constraints in South Florida. With its construction expected to commence in the first half of 2028 and become operational by 2030, subject to final commissioning, Chesapeake Utilities Corporation remains committed to advancing development activities, including engineering, environmental studies, and stakeholder engagement.