This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Spectra Energy Holds Open Season For Renaissance Gas Transmission Project

HOUSTON, March 2, 2012 /PRNewswire/ -- Spectra Energy Corp (NYSE: SE) today announced a non-binding open season for its Renaissance Gas Transmission (Renaissance) project, a new pipeline system that will link growing natural gas supplies to high-demand power generation and distribution markets in Georgia, Alabama and Tennessee. The company also announced it has executed a non-binding letter of intent with AGL Resources (NYSE: GAS) to explore a joint business arrangement and transportation service options for the local distribution companies owned by AGL Resources that operate near the proposed pipeline.



Spectra Energy expects natural gas demand in this region to significantly grow as power generators look to increase their use of existing facilities and site new gas-fired generation. The Renaissance project will support multiple service offerings to these generators, as well as local distribution companies and industrial users, by bringing high-pressure capabilities to serve the swing and hourly delivery requirements that these markets require.

The Renaissance project will commence at an interconnect with Spectra Energy's Texas Eastern Transmission, LP (Texas Eastern). Texas Eastern is strategically positioned with existing connectivity through the Marcellus, Utica, Appalachian and other shale gas supply sources, creating a direct link from these basins to the Renaissance project. Texas Eastern offers additional supply options for Renaissance customers with its traditional access to Gulf of Mexico and Gulf Coast supply as well as its access to the Fayetteville, Haynesville, Woodford, Barnett and Eagle Ford shale plays. These direct links to multiple supply basins will serve to diversify customer's clean energy options and offer significant liquidity and supply reliability. The new pipeline runs 230 miles in length, and the projected capacity is approximately 1.25 billion cubic feet per day (Bcf/d), with an estimated in-service in late 2015.

"Taking advantage of expanding domestic onshore resources and creating access to growing natural gas markets will enable us to offer greater flexibility to both new and existing customers," said Mark Fiedorek, group vice president, Spectra Energy Transmission, Southeast.

"With our existing Texas Eastern system footprint, Spectra Energy can readily connect the shale gas production potential from the Marcellus and Utica shales to the doorstep of an exciting, high-demand market," Fiedorek added.  "We hope to reach a mutually beneficial arrangement with AGL Resources to anchor this project, and are confident we also can meet the future needs of other potential customers in the Southeast."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 1.64%
FB $117.43 -0.96%
GOOG $692.36 -0.84%
TSLA $232.32 -3.92%
YHOO $36.01 -1.42%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs