Maritimes & Northeast Pipeline Receives FERC Approval to Expand U.S. Facilities



    
    New Infrastructure to Link LNG Supplies to Growing Northeast U.S. and
    Maritime Provinces
    

    WALTHAM, Mass., March 12 /CNW/ -- Maritimes & Northeast Pipeline, L.L.C.
(Maritimes) has received approval from the Federal Energy Regulatory
Commission to double its capacity to accommodate critical supplies of natural
gas sourced from the Canaport(TM) LNG receiving and re-gas terminal in Saint
John, New Brunswick. Canaport(TM) LNG is a limited partnership of subsidiaries
of Repsol YPF and Irving Oil Limited.
    FERC's authorization allows Maritimes to construct and operate the
pipeline infrastructure necessary to increase its year-round mainline design
capacity by approximately 418,000 dekatherms per day to more than 833,000
dekatherms per day. Through an agreement with Repsol YPF, the Phase IV
expansion project will transport re-gasified LNG on the existing pipeline
system.
    "With the addition of the Phase IV Project, Maritimes is positioned to
help meet the region's energy needs by delivering a new long-term source of
natural gas to a region that continues to see demand grow," said Doug Bloom,
president, Maritimes & Northeast Pipeline. "The expansion will result in a
more efficient, reliable and cost-effective pipeline system, providing our
customers with greater availability and security of natural gas supply."
    Repsol's re-gasified LNG is expected to be transported on the proposed
Brunswick Pipeline to an interconnection with the Maritimes system at the
U.S.-Canada border. The Brunswick Pipeline is seeking Canadian regulatory
approvals.
    The Phase IV Project facilities include the construction of five new
compressor stations in Woodchopping Ridge, Brewer, Searsmont, Westbrook, and
Eliot, Maine; approximately 1.7 miles of 30-inch diameter pipeline in
Baileyville, Maine; and modifications to existing facilities in Maine and
Massachusetts.
    "We appreciate FERC's thorough and timely review of Maritimes' Phase IV
application," continued Bloom. "FERC recognizes that the project will bring
critical new supplies to the region with minimal impact to landowners,
communities and the environment."
    In addition, FERC approved Maritimes' request to amend its Presidential
Permit to allow increased imported volumes of natural gas from Canada and to
construct and operate an additional interconnection at the U.S.-Canada border
near Baileyville, Maine.
    Maritimes is seeking remaining permits for the Phase IV Project from
numerous other federal and state agencies. Construction is expected to begin
later this year, with an anticipated in-service date of Nov. 1, 2008. The
proposed project is expected to cost $321 million.

    Maritimes & Northeast Pipeline, L.L.C. is owned by affiliates of Spectra
Energy (77.53 percent), Emera Inc. (12.92 percent) and Exxon Mobil 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.

    
    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 and the timing and receipt of required
regulatory approvals; the timing and receipt of sufficient capacity
commitments for 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 Spectra
Energy's 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: Marylee Hanley, +1-617-560-1573, or 
mhanley@spectraenergy.com, or Stephen Rankin +1-902-425-4293, or 
sjrankin@spectraenergy.com, both of Spectra Energy, +1-713-627-4747 (24-hour 
media line) Web Site: http://www.spectraenergy.com                 
http://www.mnpp.com                  http://www.sec.gov

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Spectra Energy Corp.

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MARITIMES & NORTHEAST PIPELINE, L.L.C.

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