UPDATE 1-Chesapeake Utilities unit to build $1.2 billion Florida gas pipeline project

Chesapeake Utilities Corporation

Chesapeake Utilities Corporation

CPK

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July 13 (Reuters) - Chesapeake Utilities CPK.N said on Monday its unit Peninsula Pipeline Company will develop, construct and operate a natural gas pipeline project in Florida for about $1.2 billion.

The company said the project will help expand natural gas transportation capacity to address regional supply constraints.

Chesapeake Utilities expects the project to enter service in 2030, subject to final commissioning, and said it plans to partner with one or more third parties that could own up to 49% of the project.


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