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Chesapeake Utilities Corporation Announces Sale of 49% Ownership Interest in Florida Energy Pathway Project

CPK
  • Chesapeake Utilities Corporation's subsidiary Peninsula Pipeline Holdings sold a 49% minority interest in the Florida Energy Pathway (FEP) project to NextEra Energy Resources.
  • Peninsula will retain 51% ownership of the FEP natural gas transmission infrastructure project.
  • The project is a 24-inch intrastate pipeline designed to transport natural gas from Palm Beach County to Miami-Dade County.
  • Total project investment is estimated at approximately $1.2 billion, pending final design & development activities.
  • Peninsula Pipeline Company, Inc. will be responsible for constructing, managing, & operating the project.
  • Development activities including engineering, environmental studies, & stakeholder engagement are currently advancing.
  • Construction is expected to begin in the first half of 2028, with service anticipated in 2030 subject to final commissioning.
  • The project aims to expand transportation capacity, address supply constraints, meet growing demand, & enhance energy reliability in South Florida.