PrintNews Release
November 1, 2007
Spectra Energy Proposes New Pipeline to Serve Western United States
Bronco Pipeline to Move Rocky Mountain Natural Gas to Western Markets
HOUSTON – Spectra Energy is proposing to build a new geographically strategic natural gas pipeline system – the Bronco Pipeline – to connect Rocky Mountain natural gas supplies with under-served Western markets.
The proposed Bronco Pipeline, an interstate natural gas system more than 650 miles in length, will have an initial capacity of more than 1 billion cubic feet (Bcf) per day. It is expected that construction of this project will cost in excess of $3 billion.
The pipeline will access existing and growing supply basins in Wyoming, Utah and Colorado and stretch westward, interconnecting with several pipelines en route to its terminus near Malin, Ore., a physical and financial trading point key to west coast markets.
Based on preliminary market need and assessments, the project is currently planned to be in-service as early as 2011 with completion in 2012.
“The proposed Bronco Pipeline positions Spectra Energy as a new competitor bringing critical supply outlets to the growing Rockies’ production regions and attaching to strong western markets with increasing natural gas needs,” said Spectra Energy Chief Development Officer Alan Harris. “Spectra Energy has a proven history of developing critical new natural gas infrastructure projects across North America, connecting diverse supplies with growing markets.
“With the continued demand for clean-burning natural gas to fuel growth in the Pacific Northwest and California markets, the Bronco Pipeline represents an important new outlet for Rockies production to reach these key markets and builds on our long-standing service to this region through our Western Canadian facilities,” Harris added.
In the next three months, Spectra Energy will hold an open season to determine final project parameters including route, market and timing. For information on the Bronco Pipeline project, please contact Guy Buckley, vice president of corporate development, at 713-627- 5772.
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.
(713) 627-4072
(713) 627-4747 (24-hour media line)
John Arensdorf
(713) 627-4600