Spectra Energy moving forward with TEAM 2014 expansion project in Texas

HOUSTON, Texas - Spectra Energy Corp's Texas Eastern Transmission, LP on April 12 named Chevron U.S.A. Inc. and EQT Energy, LLC, a gas marketing subsidiary of EQT Corp., as anchor shippers for its recently announced Texas Eastern Appalachia to Market (TEAM) 2014 Expansion Project.

TEAM is an expansion of the company's existing Texas Eastern system that will deliver additional emerging Appalachian shale natural gas supplies to diverse markets in the Northeast, Midwest and Southern U.S.

Under the TEAM 2014 project, Chevron and EQT will ship a combined quantity of 600 million cubic feet per day (MMcf/d).

The estimated capital investment for the project is approximately $500 million, with a targeted in-service date of fourth quarter 2014. A term of the TEAM 2014 project is that a shipper is required to commit to a minimum volume of 300 MMcf/d to qualify as an anchor shipper.

TEAM 2014 follows the successful TEAM 2012 project currently under construction, a capacity expansion of 200 MMcf/d for two shippers, Range Resources and Chesapeake Utilities, to be placed into service this fall.

Spectra Energy secures two shippers for Texas Eastern expansion

HOUSTON, Texas - Spectra Energy Corp.'s Texas Eastern Transmission, LP on Jan. 17 announced it has reached binding agreements with two anchor shippers for its TEAM 2014 project, an expansion of its existing Texas Eastern system to deliver additional emerging Appalachian shale natural gas supplies to diverse markets in the Northeast, Midwest and Southern U.S.

The commitments provide sufficient market support to proceed with the development of the TEAM 2014 project. Texas Eastern will solicit interest from additional shippers through a binding open season that began on Jan. 17 and will end Feb. 17.

TEAM 2014, with an estimated fourth quarter 2014 in-service date, reflects a fully scalable capacity expansion of up to 1.4 billion cubic feet per day, including the volume of the two anchor shippers. Because Texas Eastern is expanding its existing pipeline system, the expansion project can be sized to meet the needs of the two anchor shippers as well as additional shippers that may be identified during the binding open season.

The company currently estimates the expansion will result in a capital investment of approximately $500 million, which could potentially increase based on the results of the open season.

Interested shippers will have the opportunity to nominate transportation services from multiple existing and proposed receipt points in West Virginia and southwestern Pennsylvania to multiple delivery points across the Northeast, Midwest and Southeast U.S. markets.

Spectra Energy secures two shippers for Texas Eastern expansion

HOUSTON, Texas - Spectra Energy Corp.'s Texas Eastern Transmission, LP on Jan. 17 announced it has reached binding agreements with two anchor shippers for its TEAM 2014 project, an expansion of its existing Texas Eastern system to deliver additional emerging Appalachian shale natural gas supplies to diverse markets in the Northeast, Midwest and Southern U.S.

The commitments provide sufficient market support to proceed with the development of the TEAM 2014 project. Texas Eastern will solicit interest from additional shippers through a binding open season that began on Jan. 17 and will end Feb. 17.

TEAM 2014, with an estimated fourth quarter 2014 in-service date, reflects a fully scalable capacity expansion of up to 1.4 billion cubic feet per day, including the volume of the two anchor shippers. Because Texas Eastern is expanding its existing pipeline system, the expansion project can be sized to meet the needs of the two anchor shippers as well as additional shippers that may be identified during the binding open season.

The company currently estimates the expansion will result in a capital investment of approximately $500 million, which could potentially increase based on the results of the open season.

Interested shippers will have the opportunity to nominate transportation services from multiple existing and proposed receipt points in West Virginia and southwestern Pennsylvania to multiple delivery points across the Northeast, Midwest and Southeast U.S. markets.