Spectra Energy Proposes to Move New Rocky Mountain Natural Gas Supply to Growing Northeastern Markets



    
    Binding Open Season for Northern Bridge Project Begins September 6
    

    HOUSTON, Sept. 6 /CNW/ -- Spectra Energy, in response to the needs of
Rocky Mountain natural gas suppliers, is proposing to expand its existing
Texas Eastern Transmission system to move new volumes of natural gas into the
major Northeast markets of the mid-Atlantic and New England states.
    
    (Logo:  http://www.newscom.com/cgi-bin/prnh/20061030/CLM051LOGO )
    
    Given its unique position between the growing Clarington supply point and
Northeast markets, Texas Eastern is proposing to expand its pipeline system
from Clarington, Ohio, to its market area at Oakford / Delmont, Pa., through a
project called Northern Bridge.
    The proposed project, expected to transport up to 500 million cubic feet
per day of natural gas, will be right-sized to meet suppliers' needs to direct
the substantial volumes to the growing Northeast markets. Northern Bridge will
offer strategic interconnections with all transmission pipelines and several
storage markets along its path.
    "Spectra Energy is in the best position to respond to the needs of
suppliers and the demands of the Northeast markets," said Bill Yardley, group
vice president for Spectra Energy. "Through our ongoing Northeast strategy, we
are developing and constructing well-timed, cost-effective pipeline and
storage expansions that will connect significant sources of natural gas to the
region. The growing Northeast markets will enjoy diversity of supply and the
ability to better manage price volatility, along with enhanced supply security
and reliability."
    Spectra Energy will hold a binding open season for additional pipeline
capacity on Northern Bridge from Thursday, September 6, through Friday,
September 28, at 5 p.m. EDT.  For more information, contact Rob Hansen at
(617) 560-1549.
    Last year, Spectra Energy recognized the potential for Rocky Mountain
natural gas to move further east on its Texas Eastern pipeline system and held
a successful open season called 'TEMAX.'
    Northern Bridge represents the first project that developed from the
TEMAX open season. With an anticipated capital expenditure of $100 million to
$150 million, the additional capacity will be achieved by a combination of
more compression at existing compressor stations and pipeline looping that,
where possible, will utilize existing rights of way. The exact nature of
facilities will be based upon the results of the open season.  Northern Bridge
is expected to begin operations in late 2009.
    Spectra Energy Corp (NYSE:   SE) is one of North America's premier natural
gas infrastructure 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, 265 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 and amount of planned capital
expansions and anticipated future natural gas pipeline capacity as well as the
demand for such 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 in our Form 10-K, filed with the Securities and
Exchange Commission on April 2, 2007, and other filings that we make with the
SEC, which are 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: Media, Gretchen Krueger, +1-713-627-4072, 
+1-713-627-4747 (24-hour media line), or Analysts, John Arensdorf, 
+1-713-627-4600, both of Spectra Energy Web Site:
http://www.spectraenergy.com

Organization Profile

Spectra Energy Corp.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890