Spectra Energy Secures Long-Term Contracts for Gulf Market Expansion Project

abarrelfull wrote on 13 Nov 2013 06:37
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Spectra Energy Corp (NYSE: SE) and Spectra Energy Partners (NYSE: SEP) today announced they have executed new long-term contracts for 650,000 dekatherms per day (Dth/d) of natural gas shipments on the Texas Eastern pipeline system to support the growing manufacturing sector and liquefied natural gas (LNG) export industry along the Texas and Louisiana coast.

“Spectra Energy’s Texas Eastern system is strategically located to provide natural gas from the burgeoning Marcellus, Utica and Eagle Ford production areas to meet demand growth in the industrial and LNG export sectors,” said Bill Yardley, president, U.S. Transmission and Storage, Spectra Energy. “We’re proud to be the provider of choice for gas producers seeking new industrial markets and for the developing LNG export market in the Gulf Coast region.”

Customers signing contracts for long-term service include:

• EQT Corporation: 100,000 Dth/d, in-service 2016
• GDF Suez S.A.: 200,000 Dth/d, in-service 2017
• Mitsubishi Corporation: 100,000 Dth/d, in-service 2017
• MMGS, Inc., a subsidiary of Mitsui & Co., Ltd: 100,000 Dth/d, in-service 2017
• Range Resources, Appalachia LLC: 150,000 Dth/d, in-service 2016

Phase one of the project will transport 250,000 Dth/d as early as November 2016. Phase two will bring an additional 400,000 Dth/d to these markets beginning in September 2017 and ramping up through December 2018. The Gulf Markets Expansion Project is a continuation of Spectra Energy’s development efforts, including the Team 2014 and OPEN projects, to transform its Texas Eastern Transmission mainline into a bi-directional system providing diverse supply access to Northeast, Southeast and Gulf Coast markets.

• Spectra Energy Secures Long-Term Contracts for Gulf Market Expansion Project

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