HOUSTON, Nov. 1, 2013 /PRNewswire/ -- Spectra Energy Corp (NYSE: SE) today announced the successful completion of its New Jersey – New York Expansion Project. The new pipeline, an extension of Spectra Energy's Texas Eastern and Algonquin Gas systems, is designed to bring customers in the region 800 million cubic feet per day (mmcf/d) of natural gas supplies, as well as economic and environmental benefits.
"Successfully completing this pipeline is a testament to our ability to secure, permit and execute on large and complex growth projects," said Greg Ebel, president and chief executive officer, Spectra Energy. "We've built the first natural gas pipeline into Manhattan in more than 40 years, one that will supply the region with safe, affordable, clean, domestic natural gas. Completing this pipeline is a great accomplishment, and one in which our team can take great pride."
"The natural gas in this pipeline will warm homes, cook food and keep businesses running in New Jersey and New York for years to come. Customers in the region could save $700 million in energy costs each year while also replacing fuel oil with domestic and cleaner-burning natural gas," said Bill Yardley, president, U.S. Transmission and Storage, Spectra Energy. "We've invested the past five years speaking with stakeholders and officials, planning and re-planning, designing and constructing this pipeline, all to ensure it was completed safely, efficiently and to the highest standards."
Facts about the New Jersey-New York Expansion:
- A $1.2 billion, privately funded expansion of the Texas Eastern Transmission and Algonquin Gas Transmission pipeline systems
- Approximately 20 miles of new pipeline (including about five miles of replacement pipeline); new meter and regulating stations; modifications to existing facilities
- Up to 800 mmcf/d capacity, enough to heat 2 million homes per day
- Significant economic and environmental benefits
- Created thousands of direct and indirect jobs
- Customers in New Jersey and New York projected to save an estimated $700 million annually in wholesale energy prices
- Improves reliability and diversity of gas supplies for the region
- Eliminates 6 million tons of carbon dioxide per year, the equivalent of removing 1 million cars from the road
- Construction included drilling nine tunnels (Horizontal Directional Drills, or HDDs) to route the pipe under rivers and streets, one of which holds the industry record for the longest 30-inch HDD in North America—the crossing at the Kill Van Kull—at just over 8,100 feet
Spectra Energy Corp (NYSE: SE), a FORTUNE 500 company, is one of North America's premier pipeline and midstream companies. Based in Houston, Texas, the company's operations in the United States and Canada include more than 22,000 miles of natural gas, natural gas liquids, and crude oil pipelines, approximately 305 billion cubic feet (Bcf) of natural gas storage, as well as natural gas gathering and processing, and local distribution operations. The company also has a 50 percent ownership in DCP Midstream, the largest producer of natural gas liquids and the largest natural gas processor in the United States. Spectra Energy has served North American customers and communities for more than a century. The company's longstanding values are recognized through its inclusion in the Dow Jones Sustainability World and North America Indexes and the CDP Global 500 and S&P 500 Climate Disclosure and Performance Leadership Indexes. For more information, visit www.spectraenergy.com.
SOURCE Spectra Energy Corp