Spectra Energy Files Registration Statement to Form a Master Limited Partnership

    HOUSTON, March 30 /CNW/ -- Spectra Energy announced today that Spectra
Energy Partners, LP, a midstream energy master limited partnership (MLP)
formed by Spectra Energy, filed a Registration Statement with the Securities
and Exchange Commission relating to the initial public offering of 11,500,000
of its common units, along with up to an additional 1,725,000 common units
that may be purchased at the option of the underwriters.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20061030/CLM051LOGO )

    Application will be made to list the common units, which represent
limited partnership interests in Spectra Energy Partners, LP, on the New York
Stock Exchange under the symbol "SEP".
    A subsidiary of Spectra Energy will be the general partner of Spectra
Energy Partners, LP and, through its subsidiaries, Spectra Energy will own an
approximate 82 percent interest in the MLP through its general partner and
limited partner ownership interest.  Martha Wyrsch will serve as chairman of
the new venture, Greg Harper will serve as President, Chief Executive Officer
& Director, and Lon Mitchell will serve as Vice President and Chief Financial
    Spectra Energy Partners, LP will own and operate natural gas
transportation and storage assets consisting of interests in two interstate
natural gas pipeline systems located in the southeastern United States,
interests in two natural gas storage facilities in Texas and Louisiana, and a
LNG storage facility in Tennessee.  These facilities include:

    -- East Tennessee Pipeline System - 100% interest
    -- Gulfstream Pipeline System - 24.5% interest
    -- Market Hub Storage System - 50% interest

    Citigroup Global Markets Inc. and Lehman Brothers Inc. will act as lead
book-running managers of the offering. Spectra Energy Partners, LP's offering
of common units will be made only by means of a prospectus.  A copy of the
preliminary prospectus relating to this offering may be obtained, when
available, from Citigroup Global Markets Inc., Brooklyn Army Terminal,
Attention: Prospectus Department, 140 58th Street, 8th Floor, Brooklyn, NY
11220 or Lehman Brothers Inc., c/o ADP Financial Services, Prospectus
Fulfillment, 1155 Long Island Ave., Edgewood, NY, 11717.
    A registration statement relating to these securities has been filed with
the Securities and Exchange Commission but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior to the time
the registration statement becomes effective. This news release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state.

    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 www.spectraenergy.com for more

    Statements contained in this press release that are not historical facts
are "forward-looking statements" within the meaning of the federal securities
laws. Forward-looking statements, including statements regarding the
completion of the proposed initial public offering and any of the terms
thereof, are inherently uncertain and subject to a variety of risks that could
cause actual results to differ materially from those expected by management of
Spectra Energy or Spectra Energy Partners, LP.

For further information:

For further information: media, Molly Boyd of Spectra Energy,
+1-713-627-5923, or 24-hour media line, +1-713-627-4747, analysts, John
Arensdorf of Spectra Energy, +1-713-627-4600; Web Site:

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