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Press release from PR Newswire

Spectra Energy Places Major Expansion Projects into Service as Part of Ongoing Growth CapEx Program

Wednesday, September 07, 2011

Spectra Energy Places Major Expansion Projects into Service as Part of Ongoing Growth CapEx Program16:30 EDT Wednesday, September 07, 2011Projects Meet Customer Needs for New, Incremental Supply and Flexible StorageHOUSTON, Sept. 7, 2011 /PRNewswire/ -- Spectra Energy Corp (NYSE: SE) today announced it has successfully placed into service, on time and under budget, two more major expansion projects. This brings to six the total number of expansion projects brought into service this year, as part of the company's $1 billion to $1.5 billion per year ongoing capital expansion plan.(Logo: )Placed into service on September 1, the TEMAX/ TIME III Project increases the capacity on the company's Texas Eastern Transmission system to deliver up to 455 million cubic feet per day (Mmcf/d) of Rocky Mountain natural gas supplies for shippers ConocoPhillips, CenterPoint Energy Services and PPL EnergyPlus to markets in the northeast United States. The Northeastern Tennessee (NET) Project, owned by Spectra Energy Corp's master limited partnership, Spectra Energy Partners (NYSE: SEP), also went into service on September 1. The NET Project, an expansion of the East Tennessee Natural Gas (ETNG) system, provides firm transportation services of up to 150 Mmcf/d to the Tennessee Valley Authority's new 880-megawatt combined cycle, natural gas-fired power plant in northeast Tennessee.  "Spectra Energy is closely focused on developing pipeline and storage expansion projects that are sized and timed to respond  to both producer needs to move new volumes as well as market needs to gain access to new supplies," said Greg Ebel, president and chief executive officer, Spectra Energy Corp. "Our efforts increase regional access to more diverse, flexible and affordable supplies, especially growing regional shale gas, while enhancing the deliverability and reliability of the interstate transmission grid."    Other major projects recently placed into service include: Bissette Pipeline, an expansion adding up to 200 Mmcf/d of production capacity from the Montney shale basin to the South Peace Pipeline, which serves both the company's Dawson and McMahon plants in northeast British Columbia.Gulfstream Phase V, an expansion that included installation of 20,500 HP of compression, providing an additional 35,000 cubic feet (Mcf) of firm capacity into Florida, underscoring the heightened demand for natural gas used for electricity generation. Moss Bluff Cavern 4, a 6.5 billion cubic feet (Bcf) expansion of the salt dome storage facility in Liberty County, Texas, that increases the total working gas capacity to 21.5 Bcf. The expanded facility is strategically located to capture growing regional shale gas supplies, balancing supply/demand requirements of the regional market.Hot Spring Lateral Project, another expansion to the company's Texas Eastern system, providing up to 120 Mmcf/d of firm capacity to KGen's Hot Spring power plant in Hot Spring County, Ark, and fueling growth opportunities related to increased demand for natural gas-fired power generation.Spectra Energy Corp (NYSE: SE), a FORTUNE 500 company, 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 nearly a century, Spectra Energy and its predecessor companies have developed critically important pipelines and related infrastructure connecting natural gas supply sources to premium markets. Based in Houston, Texas, the company operates in the United States and Canada approximately 19,100 miles of transmission pipeline, more than 305 billion cubic feet of storage, as well as natural gas gathering and processing, natural gas liquids operations and local distribution assets. The company also has a 50 percent ownership in DCP Midstream, one of the largest natural gas gatherers and processors in the United States. Spectra Energy is a member of the Dow Jones Sustainability World and North America Indexes and the U.S. S&P 500 Carbon Disclosure Project's Leadership Index for both Carbon Performance and Disclosure. For more information, visit Spectra Energy CorpFor further information: Media: Wendy Olson, +1-713-627-4072, +1-713-627-4747 (24-hour media line); Analysts: John Arensdorf, +1-713-627-4600