Spectra Energy Completes Capacity Expansion
Posted on: Friday, 21 December 2007, 12:00 CST
US-based natural gas infrastructure firm Spectra Energy has brought 13 projects worth $660 million online in time for the 2008 winter heating season, as part of its $1 billion expansion plan for 2007-08.
The expansion increased the capacity of Spectra Energy's North American natural gas transmission system by 1.6 billion cubic feet per day, enough energy to heat approximately 16,000 homes for one year.
Spectra said that the expansion will contribute EBIT of approximately $75 million for 2008, of which about $50 million will be incremental to the EBIT contribution for 2007.
Martha Wyrsch, president and CEO, said: "We continue to execute on our plan to invest more than $3 billion in critical natural gas infrastructure through 2009. This significant investment will provide suppliers access to high value markets helping to ensure greater supply reliability and security across North America."
Source: Datamonitor
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