Spectra Energy Announces Plans for New Processing Plant to Meet the Needs of Montney Producers Planned Investments in New Natural Gas Infrastructure in Northeast British Columbia Now Total $1.5 Billion Over Three Years
CALGARY, Alberta, June 10 /PRNewswire-FirstCall/ -- Spectra Energy (NYSE: SE) today announced it is responding to customer demand in the prolific Montney play of northeast British Columbia (BC) by building a new 200 million cubic feet per day (mmcf/d) natural gas processing plant west of Dawson Creek.
"The new plant is an important part of our growth strategy and our now about $1.5 billion investment opportunity in northeast British Columbia," said Doug Bloom, president, Spectra Energy Transmission West. "The new plant capacity is fully contracted, further extends our asset base in the rapidly growing Montney natural gas play and will be integrated with our existing natural gas gathering and processing facilities in the area," said Bloom.
The proposed Dawson Processing Plant will be built in two phases with the first 100 mmcf/d of processing capacity available in late 2011 and the remaining capacity available in early 2013. The expansion facilities are supported by long-term customer commitments and reinforce Spectra Energy's commitment to be the supplier of choice for existing and future Montney area infrastructure development.
Building on more than five decades of experience, resources and assets in northeast British Columbia, Spectra Energy is continuing to grow its infrastructure to move new natural gas supplies safely, efficiently and responsibly to market. As overall BC natural gas production is forecast to double, further development opportunities in Northeast BC are anticipated.
Construction of these facilities is subject to all customary regulatory and other approvals.
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 285 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 both the Dow Jones Sustainability Index North America and the U.S. S&P 500 Carbon Disclosure Leadership Index. For more information, visit www.spectraenergy.com.
SOURCE Spectra Energy