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Spectra Energy Proposes to Move New Rocky Mountain Natural Gas Supply to Growing Northeastern Markets

September 6, 2007

Binding Open Season for Northern Bridge Project Begins September 6

HOUSTON – Spectra Energy, in response to the needs of Rocky Mountain natural gas suppliers, is proposing to expand its existing Texas Eastern Transmission system to move new volumes of natural gas into the major Northeast markets of the mid-Atlantic and New England states.   

Given its unique position between the growing Clarington supply point and Northeast markets, Texas Eastern is proposing to expand its pipeline system from Clarington, Ohio, to its market area at Oakford / Delmont, Pa., through a project called Northern Bridge.

The proposed project, expected to transport up to 500 million cubic feet per day of natural gas, will be right-sized to meet suppliers’ needs to direct the substantial volumes to the growing Northeast markets. Northern Bridge will offer strategic interconnections with all transmission pipelines and several storage markets along its path.

“Spectra Energy is in the best position to respond to the needs of suppliers and the demands of the Northeast markets,” said Bill Yardley, group vice president for Spectra Energy. “Through our ongoing Northeast strategy, we are developing and constructing well-timed, cost-effective pipeline and storage expansions that will connect significant sources of natural gas to the region. The growing Northeast markets will enjoy diversity of supply and the ability to better manage price volatility, along with enhanced supply security and reliability.”

Spectra Energy will hold a binding open season for additional pipeline capacity on Northern Bridge from Thursday, September 6, through Friday, September 28, at 5 p.m. EDT.  For more information, contact Rob Hansen at (617) 560-1549.

Last year, Spectra Energy recognized the potential for Rocky Mountain natural gas to move further east on its Texas Eastern pipeline system and held a successful open season called ‘TEMAX.’

Northern Bridge represents the first project that developed from the TEMAX open season. With an anticipated capital expenditure of $100 million to $150 million, the additional capacity will be achieved by a combination of more compression at existing compressor stations and pipeline looping that, where possible, will utilize existing rights of way. The exact nature of facilities will be based upon the results of the open season.  Northern Bridge is expected to begin operations in late 2009.

Spectra Energy Corp (NYSE: SE) 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 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 information.

Forward-Looking Statements

This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements represent our intentions, plans, expectations, assumptions and beliefs about future events. This release includes forward-looking statements concerning future developments at our facilities, including the anticipated timing and amount of planned capital expansions and anticipated future natural gas pipeline capacity as well as the demand for such capacity. Such statements are subject to risks, uncertainties and other factors, many of which are outside our control and could cause actual results to differ materially from the results expressed or implied by those forward-looking statements. Those factors include: the timing and success of efforts to develop infrastructure projects; the timing and receipt of required regulatory approvals; the timing and receipt of sufficient capacity commitments for the described project; and fluctuations in the demand for natural gas in the markets serviced by the described project. These factors, as well as additional factors that could affect our forward-looking statements, are described in our Form 10-K, filed with the Securities and Exchange Commission on April 2, 2007, and other filings that we make with the SEC, which are available at the SEC’s website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than we have described. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.