Spectra Energy Announces Open Season for Algonquin Incremental Market Project
December 13, 2010
New Expansion Project to Connect Emerging Natural Gas Supplies to Premium Markets in the U.S. Northeast and New England
HOUSTON - Spectra Energy Corp’s (NYSE: SE) Algonquin Gas Transmission, LLC (Algonquin) today announced a non-binding open season for the Algonquin Incremental Market (AIM) project, a proposed expansion of the company’s existing Algonquin pipeline system to deliver additional Appalachian and Marcellus Shale natural gas supplies to premium markets in the U.S. Northeast and New England.
The AIM project will provide shippers with the opportunity to design transportation services from multiple receipt points on the Algonquin system to multiple existing and proposed delivery points. Shippers also may request to increase the capacity at the Algonquin interconnect at Brookfield, providing incremental gas deliveries into the Iroquois Gas Transmission system via a compression-only service offered by Algonquin.
“We are seeing significant shifts in the natural gas supply dynamics for the U.S. Northeast and New England markets,” said Bill Yardley, group vice president, Spectra Energy Transmission, Northeast. “While traditional imports from Canada are declining, we’re seeing a dramatic increase in available supply from the Appalachian region, including the Marcellus Shale play. Connecting this new supply to these important and growing markets will be highly beneficial to our customers, offering them increased supply diversity and reliability and an enhanced ability to manage price volatility.”
The open season for the AIM project will commence December 13, 2010, and end February 11, 2011. For information, contact Greg Crisp at (713) 627-4611 or your Algonquin account manager. The complete open season brochure can be viewed here. Additional information also is available in the Growth Projects section at www.spectraenergy.com.
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 www.spectraenergy.com.
Wendy Olson (713) 627-4072 (713) 627-4747 (24-hour media line)