Chesapeake Utilities Sells 49% Stake in $1.2 Billion Florida Gas Project

08:45 AM EDT, 09/01/2026 (MT Newswires) -- Chesapeake Utilities (CPK) said Tuesday its subsidiary, Peninsula Pipeline, sold a 49% minority stake in the Florida Energy Pathway project to NextEra Energy Resources. The company said Peninsula will retain a 51% stake, while it will construct, manage and operate the project. The 24-inch natural gas pipeline is expected to run from Palm Beach County to Miami-Dade County, with total investment estimated at about $1.2 billion, the company said. Construction is expected to begin in H1 2028, with the project targeted to enter service in 2030, it added.