HOUSTON, May 19 /PRNewswire-FirstCall/ -- Texas Eastern Transmission, LP, a subsidiary of Houston-based Spectra Energy , has finalized the design of its TIME III pipeline expansion project that will connect the Northeast United States with new Rocky Mountain natural gas supplies by November of 2010.
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Texas Eastern's TIME III Project will provide approximately 120 million cubic feet per day of additional natural gas transportation capacity along the path from Oakford, Pa., to Station 195 on the Transcontinental Gas Pipe Line Corporation (Transco) pipeline system in York County, Pa.
"The TIME III Project is the fourth expansion of our Texas Eastern system to respond to shippers' needs to transport new Rockies supplies to major Northeast markets," said Bill Yardley, group vice president, Spectra Energy Transmission. "The Texas Eastern projects are an important part of Spectra Energy's strategy to efficiently and economically expand our systems to deliver greater volumes of natural gas into the Northeast. Our efforts will increase the region's access to more diverse and flexible supply while enhancing the deliverability of the interstate transmission grid."
The TIME III Project's new facilities will involve the replacement of segments of the existing pipeline and construction of new pipeline along the existing Texas Eastern corridor. Utilizing existing facilities will minimize potential impacts to landowners, communities and the environment.
Texas Eastern is now holding an open season for the TIME III Project and will accept nominations for transportation service through Friday, May 30, at 5 p.m. EDT. The company is offering shippers that submitted TIME III nominations the option to switch all or a portion of their nomination to the new delivery point. Shippers that did not participate in the previous TIME III Open Season also may submit nominations in this open season.
For more information on the open season, contact Rob Hansen at (617) 560- 1549 or
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, and other filings that we make with the SEC, which are available at the SEC's website at http://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.
Spectra Energy Corp 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 18,000 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 http://www.spectraenergy.com/ for more information.
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