Chesapeake Utilities Corp. said it has sold a 49% minority interest in the Florida Energy Pathway project to NextEra Energy Resources, while its indirect subsidiary Peninsula Pipeline Holdings will retain a 51% stake.
The companies have engaged Chesapeake subsidiary Peninsula Pipeline Company Inc. to construct, manage and operate the joint venture project. Chesapeake said the transaction supports development of the planned natural gas infrastructure serving South Florida.
Florida Energy Pathway Plans and Development Timeline
The Florida Energy Pathway is planned as a 24-inch intrastate natural gas project running from Palm Beach County to Miami-Dade County. Chesapeake said the project is intended to expand transportation capacity, address regional supply constraints, meet customer demand and enhance energy reliability.
Total investment is estimated at about $1.2 billion, subject to final design and development work. Engineering, environmental studies and stakeholder engagement are continuing, the company said.
Construction is expected to begin in the first half of 2028, with the project anticipated to enter service in 2030, subject to final commissioning. Chesapeake cautioned that project investment, timing and financing involve forward-looking statements and may differ from current expectations.
