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Gulfstream Natural Gas System L.L.C. Sets Open Season for Proposed Mainline Expansion

May 21, 2007

TAMPA, Fla.  – Gulfstream Natural Gas System, L.L.C. announced today that it will conduct an open season from June 1 to August 31 to gauge market interest in an expansion of its existing natural gas pipeline system to serve Florida’s rapidly growing natural gas market.

New service from the mainline expansion is anticipated to be available beginning in late 2011, pending Federal Energy Regulatory Commission and other agency approvals.

“The Florida natural gas market continues to experience robust growth at rates far above the national average. We expect this growth will continue through the next decade,” said Brad Reese, Gulfstream vice president. “Gulfstream will be fully subscribed in 2009 and this mainline expansion will provide our customers with an opportunity to address their future energy needs with flexible, reliable transportation services for 2011 and beyond.”

Up to 750,000 dekatherms per day of incremental firm transportation service will be made available through the open season.  

“This project will allow us to economically serve our customers’ future natural gas needs while taking Gulfstream to the next level,” Reese added.  “We have planned this expansion to offer our customers the flexibility needed to meet their service requirements.”

Additional open season details will be available on Gulfstream’s Web site at www.1line.gulfstreamgas.com starting June 1.  Shippers desiring to secure capacity will be required to submit a non-binding nomination and a refundable deposit. 

Placed into service in May 2002, Gulfstream Natural Gas System L.L.C. is a 691-mile pipeline system with the capacity to deliver 1.1 billion cubic feet of natural gas each day to serve Florida’s growing energy needs. The pipeline is a joint development between Williams (NYSE:WMB) and Spectra Energy (NYSE:SE).

Portions of this document may constitute “forward-looking statements” as defined by federal law. Although the companies believe any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the “safe harbor” protections provided under the Private Securities Reform Act of 1995.