Midstream - Pipelines | Quarterly / Earnings Reports
Spectra Plans $6B in Expansion Projects
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Highlights:
First quarter 2013 earnings in line with company expectations.
Express-Platte Pipeline System acquisition closed ahead of schedule.
MLP drop-down strategy and continued execution of growth plans emphasize long term value creation.
Business Expansion Updates
Currently, Spectra Energy is executing on more than $6 billion of expansion projects. In the U.S., the NJ-NY Expansion Project is more than 70 percent complete and is on track to enter service in late 2013. Additionally, AIM and Renaissance are moving closer to final decision as the demand for natural gas continues to grow in the northeast and southeast United States. In line with that demand, the company recently submitted a proposal to build a third major natural gas pipeline into Florida in 2017. A final investment…
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