Maritimes & Northeast Pipeline Phase IV Construction Underway



    
    Expansion to Bring Vital Supplies of Natural Gas to the Northeast U.S. and
    Maritime Provinces
    

    WALTHAM, Mass., Sept. 5 /CNW/ -- Construction on the Maritimes &
Northeast Pipeline, L.L.C. (Maritimes) system is underway to:

    
    -- double the capacity of the existing natural gas pipeline; and
    -- allow for the delivery of significant new volumes of natural gas to
       growing markets in the Northeast U.S. and Maritimes Provinces.
    
    When the $320 million Phase IV Project is completed, the year-round
mainline design capacity of the Maritimes system will increase by
approximately 400 million cubic feet per day (Mmcf/d) to almost 800 Mmcf/d.
Firm transportation capacity of 700 Mmcf/d will be held by Repsol Energy North
America, the subsidiary of Repsol YPF that will sell its regasified liquefied
natural gas (LNG) in the US marketplace.
    "As construction progresses, Maritimes remains on schedule to begin
delivering critically needed natural gas supply to markets next year," said
Doug Bloom, president, Maritimes & Northeast Pipeline.  "The efficient
expansion of the Maritimes system will enhance the reliability of natural gas
supply and provide more energy options for consumers throughout the region."
    Maritimes will transport on its existing pipeline system regasified LNG
sourced from the Canaport(TM) LNG receiving and re-gas terminal currently
being constructed in Saint John, New Brunswick.  Canaport(TM) LNG is a limited
partnership of subsidiaries of Repsol YPF and Irving Oil Limited.   Repsol
Energy Canada has contracted for 100% of Canaport(TM) LNG's capacity.
    "Construction of Canaport(TM) LNG continues on schedule and will commence
operations during fourth quarter 2008," said Phil Ribbeck, chairman of the
executive committee of Canaport(TM) LNG and director of LNG North America for
Repsol YPF.  "We are working diligently in concert with the pipelines to
ensure that safe, clean and secure energy will reach the market in a timely
manner, supporting its current and future needs."
    This year Maritimes will construct new compressor stations in Searsmont
and Brewer, Maine, and make modifications to an existing compressor station in
Richmond, Maine.  In 2008, construction will include new compressor stations
in Woodchopping Ridge, Westbrook, and Eliot, Maine, and approximately 1.7
miles of 30-inch diameter pipeline in Baileyville, Maine, along with
modifications to existing meter facilities in Baileyville, Maine and Dracut,
Mass.
    Maritimes & Northeast Pipeline, L.L.C. is owned by affiliates of Spectra
Energy Corp (77.53 percent), Emera Inc. (12.92 percent) and ExxonMobil
Corporation (9.55 percent). Maritimes is headquartered in Halifax, Nova
Scotia, with an additional office in Waltham, Mass. Operations centers are
located in Fredericton, New Brunswick; New Glasgow, Nova Scotia; Greenland,
New Hampshire; and Richmond, Brewer and Baileyville, Maine. For more
information, please contact Maritimes on the Internet at www.mnpp.com.




For further information:

For further information: Marylee Hanley, +1-617-560-1573, or 24-hour
media  line, +1-713-627-4747, Stephen Rankin, +1-902-425-4293, or 24-hour
media line,  +1-713-627-4747, both of Maritimes & Northeast Pipeline, L.L.C.;
or Analysts:  John Arensdorf of Spectra Energy, +1-713-627-4600, for Maritimes
& Northeast  Pipeline, L.L.C. Web Site: http://www.mnpp.com                 
http://www.spectraenergy.com/

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MARITIMES & NORTHEAST PIPELINE, L.L.C.

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