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Press release from PR Newswire

Spectra Energy Corp Receives FERC Approval for Texas Eastern Appalachia to Market 2012 Expansion Project

Wednesday, November 30, 2011

Spectra Energy Corp Receives FERC Approval for Texas Eastern Appalachia to Market 2012 Expansion Project08:30 EST Wednesday, November 30, 2011HOUSTON, Nov. 30, 2011 /PRNewswire/ -- Spectra Energy Corp (NYSE: SE) today announced its subsidiary, Texas Eastern Transmission, LP (Texas Eastern), has received approval from the Federal Energy Regulatory Commission (FERC) for the Texas Eastern Appalachia to Market (TEAM) 2012 expansion project, which will expand Texas Eastern's existing pipeline system to deliver additional Appalachian and Marcellus Shale natural gas supplies to various premium U.S. markets, including the Northeast.(Logo:  http://photos.prnewswire.com/prnh/20061030/CLM051LOGO )The TEAM 2012 project involves installing additional pipeline and compression on Texas Eastern's mainline system in Pennsylvania. When completed in the fourth quarter 2012, the expansion will provide additional capacity of up to 200 million cubic feet per day (Mmcf/d). Spectra Energy currently has signed binding agreements with Range Resources and Chesapeake Utilities for this firm transportation capacity. "The FERC decision is an important milestone in this project, allowing us to commence construction," said Bob Riga, general manager, Spectra Energy Transmission. "TEAM 2012 will further position Spectra Energy as a leading choice for natural gas producers in the emerging Marcellus Shale and Appalachian regions, giving them flexible transportation options for bringing their supplies to market."The company also is planning to install a pipeline interconnection from its facilities to the Columbia Gas Transmission facilities near Marietta, Penn."With the Texas Eastern system traversing the Appalachian supply region, our expansions can be readily scaled and sized as production ramps up. Our prime location in both the supply and market areas gives Spectra Energy the flexibility to offer more receipt and delivery options to customers," said Riga.Spectra Energy's TEAM 2012 is the first in a series of projects designed to move Marcellus shale and other Appalachian natural gas supplies from southwestern Pennsylvania, Ohio and West Virginia to various markets, including the Northeast. The company is currently developing several opportunities to move supplies from the Appalachian Basin shale plays to various existing and new markets.   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 more than 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's operations in the United States and Canada include more than 19,000 miles of transmission pipeline, over 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 Carbon Disclosure Leadership Index. For more information, visit www.spectraenergy.com.SOURCE Spectra Energy CorpFor further information: Media: Wendy Olson, +1-713-627-4072, +1-713-627-4747 (24-hour media line), or Analysts: John Arensdorf, +1-713-627-4600