Spectra Energy President & CEO Greg Ebel Comments on Today's Announcements by Its Affiliate, DCP Midstream

HOUSTON, April 12, 2012 /PRNewswire/ -- Spectra Energy's (NY SE: SE) President and Chief Executive Officer, Greg Ebel, commented on today's announcements made by DCP Midstream, LLC ("Enterprise, Anadarko, and DCP Midstream to Jointly Develop New NGL Pipeline to Serve Colorado's Denver-Julesburg Basin") and DCP Midstream's master limited partnership, DCP Midstream Partners ("DCP Midstream Partners to Acquire 10 Percent Ownership Interest in Texas Express Pipeline Joint Venture"). DCP Midstream, LLC, is a 50/50 joint venture between Spectra Energy and ConocoPhillips.

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"The new, fee-based projects announced today further expand DCP Midstream's premier asset position in regions with growing natural gas liquids production," said Ebel. "These new facilities will further enhance DCP's ability to deliver NGL volumes to the premium Mont Belvieu marketplace. The capital to be deployed associated with these new projects is in addition to the $4 billion in capital expansion projects already in execution by DCP Midstream."

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 more than 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's operations in the United States and Canada include more than 19,000 miles of transmission pipeline, approximately 305 billion cubic feet of storage, as well as natural gas gathering and processing, natural gas liquids and local distribution operations. 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 the Dow Jones Sustainability World and North America Indexes and the U.S. S&P 500 Carbon Disclosure Project's Carbon Disclosure Leadership Index. For more information, visit www.spectraenergy.com.

SOURCE Spectra Energy



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