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

MT newswire2026/09/01 12:45

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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.

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The U.S. Energy Information Administration (EIA) has raised its forecast for average Brent crude oil prices in 2026 and 2027 to $97 and $86, respectively, reflecting pressures from global inventory declines, Middle East supply disruptions, and rising transportation costs. As oil production in the Middle East gradually recovers and global inventories rebound from low levels, the EIA expects the average spot price of Brent crude to fall to $87 per barrel in the second quarter of 2027, and further decline to $77 per barrel by the fourth quarter.

华尔街见闻•2026/11/10 18:41