Spectra Energy Holds Open Season for Texas Eastern Appalachia to Market (TEAM) 2012 Expansion Program
TEAM 2012 Expansion to Move Emerging Natural Gas Supplies from Appalachian and Marcellus Regions to Premium U.S. Northeast Markets
HOUSTON, Nov. 17 /PRNewswire-FirstCall/ -- Spectra Energy Corp's (NY SE: SE) Texas Eastern Transmission, LP (Texas Eastern) today announced a binding open season for TEAM 2012, a proposed expansion of its existing Texas Eastern system to deliver additional Appalachian and Marcellus Shale natural gas supplies to premium markets in the U.S. Northeast.
The TEAM 2012 Expansion Project will target a capacity expansion of 300 million cubic feet per day (Mmcf/d), with an estimated fourth quarter 2012 in service. This expansion will provide interested shippers with the opportunity to nominate transportation services from multiple existing and proposed receipt points on the Texas Eastern system within the Appalachian and Marcellus Shale production regions to delivery points in Texas Eastern's market area.
The company recently announced it signed a binding agreement for a minimum of 150 Mmcf/d of firm transportation capacity with an affiliate of Range Resources Corporation (NYSE: RRC), a leading Marcellus Shale producer, as part of the TEAM 2012 Expansion.
"We are pleased to have Range Resources as the anchor shipper for TEAM 2012 and look forward to working with other producers in the region for the remaining capacity," said Bob Riga, general manager, Spectra Energy Transmission, who manages the company's Pittsburgh, Pa., office.
"Texas Eastern has a long history of developing and constructing well-timed, cost-effective pipeline expansions and our desirable geographic position in the Marcellus Shale region makes us a preferred choice for producers seeking flexible timing and transportation options for getting their gas to market," said Riga.
The open season for the TEAM 2012 Expansion will commence November 17, 2009, and end December 1, 2009. For information, contact Bob Riga at (412) 928-3654 or Sean Foley, project director, at (617) 560-1359. Additional information also is available at www.spectraenergy.com.
Texas Eastern will initiate discussions to ascertain market interest for the next TEAM Expansion Project through another open season to be announced later this month. TEAM 2013, with an estimated late 2013 in service, will target a capacity expansion of 500 Mmcf/d, but is not restricted to this target capacity amount and will be scalable and sized to meet customer needs.
Spectra Energy Corp (NY SE: 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 was recently ranked by FORTUNE as the world's "most admired" pipeline company. For more information, visit www.spectraenergy.com.
SOURCE Spectra Energy
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