Commodities
Chesapeake Utilities Spends $1.2 Billion on Florida Gas Pipeline Project
Chesapeake Utilities is investing $1.2 billion in a new natural gas pipeline project in Florida called the Florida Energy Pathway.
The 24-inch pipeline will run from Palm Beach to Miami-Dade counties and be supported by nearly 250,000 dekatherms per day of firm shipping commitments.
The project aims to address regional supply constraints and support growing energy demand driven by population and economic growth in south Florida.
Chesapeake Utilities expects the pipeline to enter service in 2030 and is planning to partner with one or more third parties that could own up to 49% of the project.