Spectra Energy Partners Increases Cash Distribution to 32 Cents Per Unit
Posted on: Thursday, 24 January 2008, 18:00 CST
HOUSTON, Jan. 24 /PRNewswire-FirstCall/ -- Spectra Energy Partners, LP today announced that the board of directors of its general partner declared a quarterly cash distribution to unitholders of $.32 per unit for the quarter ended December 31, 2007. This represents an increase of 6.7% over the distribution paid on November 14, 2007 of $.30 per unit. The cash distribution is payable on February 14, 2008 to unitholders of record at the close of business on February 4, 2008. This quarterly cash distribution equates to $1.28 per unit on an annual basis.
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"Our select asset portfolio and strong financial performance has put us in the enviable position of increasing our distribution in just our second quarter since the initial public offering," said Greg Harper, president and chief executive officer of Spectra Energy Partners. "We are pleased to begin delivering on our commitment to increase per unit distributions over time."
Spectra Energy Partners, LP is a Delaware master limited partnership that owns interests in natural gas transportation and storage assets in the United States. Spectra Energy Partners' assets include the East Tennessee Natural Gas system, a 1,400-mile natural gas transportation pipeline located in the Southeastern United States, and 24.5 percent of Gulfstream Natural Gas System, L.L.C., which owns a 690-mile natural gas pipeline that connects Mobile Bay to the central Florida peninsula through the Gulf of Mexico. The combined systems are capable of transporting 2.4 billion cubic feet (Bcf) of natural gas per day. Spectra Energy Partners also owns 50 percent of Market Hub Partners, a partnership that owns high deliverability salt cavern storage assets capable of storing 35 Bcf of natural gas. Visit http://www.spectraenergypartners.com/ for more information.
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Spectra Energy Partners, LP
CONTACT: Media & Analysts, Sean Blakley of Spectra Energy Partners, LP,+1-713-627-4963
Web site: http://www.spectraenergypartners.com/
Source: PRNewswire-FirstCall
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