Copiah Storage Will Increase Access to Supply Across the Eastern U.S.
HOUSTON, March 29 /CNW/ -- Spectra Energy has filed an application with
the Federal Energy Regulatory Commission (FERC) to significantly expand the
capacity of its proposed natural gas storage facility located in Copiah
(Logo: http://www.newscom.com/cgi-bin/prnh/20061030/CLM051LOGO )
The Copiah Project will increase the working capacity of the proposed
salt cavern storage from a currently authorized 3.3 billion cubic feet (Bcf)
to 15.5 Bcf of natural gas, enhancing energy reliability and security
throughout the eastern United States.
With its strategic location, the Copiah Project will offer customers
access to several supply options including growing onshore supply, liquefied
natural gas and Gulf of Mexico sources.
The proposed expansion will interconnect Copiah's high deliverability
storage facility with Spectra Energy's Texas Eastern Transmission system and,
as part of the project, with the proposed Southeast Supply Header Project.
This new transportation infrastructure will allow customers to serve markets
in the northeastern and southeastern U.S., where demand for natural gas
continues to rise.
"We recognize the importance of natural gas storage in balancing the
nation's energy needs," said Mark Fiedorek, Spectra Energy's group vice
president, southeast transmission and storage. "Expanding the Copiah Project
will increase the security and flexibility of natural gas supplies throughout
the Southeast while providing new supply options to markets in the Northeast.
With more than 265 billion cubic feet of storage capacity, we bring a
tremendous amount of experience and expertise to building and operating these
facilities safely and responsibly."
Spectra Energy's application seeks to amend its current federal
authorization. Proposed facilities include two natural gas storage caverns
each with approximately 7.75 Bcf of working capacity; four saltwater disposal
wells; four freshwater supply wells; a compressor station; approximately 15
miles of 24-inch diameter pipeline; and two meter stations.
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, 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 http://www.spectraenergy.com for more
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
the estimated capacity resulting from such expansions. 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 storage and
other infrastructure projects; the timing and receipt of required regulatory
approvals; and operational hazards inherent in the natural gas storage
industry. 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 http://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.
Media: Gretchen Krueger
(713) 627-4747 (24-hour media line)
Analysts: John Arensdorf
For further information:
For further information: Gretchen Krueger, +1-713-627-4072,
+1-713-627-4747, 24-hour media line, or John Arensdorf, +1-713-627-4600, both
of Spectra Energy Web Site: http://www.spectraenergy.com