This Day On The Street
Continue to site
ADVERTISEMENT
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 To Construct $3 Billion Interstate Pipeline Into Florida

HOUSTON, July 26, 2013 /PRNewswire/ -- Spectra Energy Corp (NYSE: SE) today announced that Sabal Trail Transmission, LLC (Sabal Trail), a joint venture of Spectra Energy and NextEra Energy, Inc. (NYSE: NEE), has been awarded a 465-mile interstate natural gas pipeline project by Florida Power & Light Company (FPL) to provide transportation services for their power generation needs beginning in May 2017. 

(Logo:  http://photos.prnewswire.com/prnh/20061030/CLM051LOGO)

"Spectra Energy is extremely pleased to have secured the bid to build and operate this interstate natural gas pipeline as a result of our competitive response to FPL's request for proposal (RFP). We are excited to work with FPL and NextEra Energy to bring this critically needed third interstate natural gas pipeline into Florida, which will provide safe, clean burning, affordable natural gas to power the state's homes, businesses and economy," said Bill Yardley, president, U.S. Transmission and Storage, Spectra Energy Corp.  "Successfully securing this project is a testament to our strong history of successful project execution and advances our strategy of maximizing shareholder value by executing more than $25 billion in growth projects through the end of the decade." 

Sabal Trail will construct the more than 1 billion cubic feet per day pipeline originating in Tallapoosa County, Alabama, extending through Georgia and ending at the Central Florida Hub near Orlando.  Through a capacity lease with Transco, natural gas supply will be accessed at Transco's Station 85 in Choctaw County, Alabama.    

"Our Sabal Trail development team is committed to engaging with stakeholders throughout the process to ensure the smooth construction of this pipeline which will provide reliable natural gas supply and significant economic benefits, including increased tax revenue and local jobs, to the Southeast region," added Yardley.

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs