Algonquin Receives FERC Approval for Northeast Gateway Lateral



    
    New Pipeline to Transport Significant Natural Gas Supplies from Offshore
    Boston to the Heart of the Northeast Market
    

    BOSTON, March 19 /CNW/ -- Algonquin Gas Transmission, LLC (Algonquin)
received approval from the Federal Energy Regulatory Commission (FERC) to
construct and operate a sub-sea pipeline that will transport substantial
volumes of regasified liquefied natural gas from Excelerate Energy's proposed
Northeast Gateway Energy Bridge deepwater port.  Algonquin is a Spectra Energy
pipeline.
    
    (Logo:  http://www.newscom.com/cgi-bin/prnh/20061030/CLM051LOGO )
    
    The pipeline, known as the Northeast Gateway Lateral, will have the
capacity to transport up to 800,000 dekatherms per day of natural gas to
Algonquin's pipeline system serving the growing Greater Boston area and New
England market.  The new volumes will help meet the region's increasing demand
for natural gas and provide customers with greater energy security and
reliability.
    "The Northeast Gateway Lateral, which is fully subscribed by Excelerate
Energy, will bring critically needed natural gas supplies to New England in
time for the 2007-2008 winter season and enhances the flexibility and
deliverability of the region's transportation network," said Bill Yardley,
Spectra Energy's group vice president, northeast transmission.  "We will
continue to develop our pipeline infrastructure to provide access to supply
options to our customers and the markets we serve."
    In its decision, FERC authorized the construction of approximately 16
miles of 24-inch diameter pipeline that will traverse under the seafloor from
Algonquin's existing system to Excelerate's Northeast Gateway Energy Bridge
deepwater port, proposed to be located approximately 13 miles off the coast of
Gloucester, Mass. The Northeast Gateway Energy Bridge deepwater port received
approval from the U.S. Maritime Administration in February.
    "After a comprehensive review of the project, FERC has determined that
the Northeast Gateway Lateral may be constructed and operated in a safe, cost-
effective and environmentally responsible manner and we appreciate the efforts
of both the FERC and the Commonwealth of Massachusetts in getting this project
to this critical juncture," continued Yardley.  "We will continue to work
closely with federal and state agencies and all interested parties as we move
forward."
    Construction is anticipated to begin this spring with operations planned
to commence in December.

    Spectra Energy Corp (NYSE:   SE) is one of North America's premier pure
play natural gas midstream companies serving three key links in the natural
gas value chain: gathering and processing, transmission and storage, and
distribution. For close to a century, Spectra Energy and its predecessor
companies have developed critically important pipelines and related energy
infrastructure connecting natural gas supply sources to premium markets. Based
in Houston, Texas, the company operates in the United States and Canada
approximately 17,500 miles of transmission pipeline, 250 billion cubic feet of
storage, natural gas gathering and processing, natural gas liquids operations
and local distribution assets. Spectra Energy Corp also has a 50 percent
ownership in DCP Midstream, one of the largest natural gas gatherers and
processors in the United States. Visit www.spectraenergy.com for more
information.

    
    Forward-Looking Statements
    
    This release includes "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements represent our intentions,
plans, expectations, assumptions and beliefs about future events. This release
includes forward-looking statements concerning future developments at our
facilities, including the anticipated timing of planned capital expansions,
and anticipated future demand for natural gas pipeline capacity. Such
statements are subject to risks, uncertainties and other factors, many of
which are outside our control and could cause actual results to differ
materially from the results expressed or implied by those forward-looking
statements. Those factors include: the timing and success of efforts to
develop infrastructure projects; the timing and receipt of required regulatory
approvals; the timing and receipt of sufficient capacity commitments for the
described project; and fluctuations in the demand for natural gas in the
markets serviced by the described project. These factors, as well as
additional factors that could affect our forward-looking statements, are
described under the headings "Risk Factors" and "Forward-Looking Statements"
in our Form 10, filed with the Securities and Exchange Commission on December
6, 2006, which is available at the SEC's website at www.sec.gov. In light of
these risks, uncertainties and assumptions, the events described in the
forward-looking statements might not occur or might occur to a different
extent or at a different time than we have described. We undertake no
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.





For further information:

For further information: John Sheridan, +1-617-560-1444, 24-hour media 
line, +1-713-627-4747, or Analysts, John Arensdorf, +1-713-627-4600, both of 
Spectra Energy Corp Web Site: http://www.spectraenergy.com/

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Spectra Energy Corp.

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ALGONQUIN GAS TRANSMISSION, LLC

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