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spectra energy Appendix2_2009ProjectFinal

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  • 1. Appendix 2: Major Projects
  • 2. 2008 Projects In-Service Expansion Project Segment Est. CapEx ($MM) In-Service Southeast Supply Header UST 625 3Q08 M&NE Phase IV (CanaportTM) Expansion UST 290 4Q08 / 1Q09 Ramapo UST 260 4Q08 TIME II (Phase II) UST 90 4Q08 Gulfstream Phase IV UST (1/2 SEP) 95 4Q08 Gulfstream Phase III UST (1/2 SEP) 60 3Q08 Egan Storage (Caverns 4) UST (1/2 SEP) 60 3Q08 Glade Spring Expansion UST (SEP) 20 4Q08 Pine River Phase 3 WC 50 4Q08 West Doe Phase II WC 5 4Q08 / 1Q09 Dawn Storage Deliverability Dist 120 4Q08 / 1Q09 Dawn-Trafalgar Pipeline – Phase III Dist 75 4Q08 Tribute Storage Dist 35 2Q08 6 Others < $20 million Various 50 Various Total 2008 Projects $ 1.8 B Total 2008 EBIT $ ~95 million Total 2009 Incremental EBIT $ ~130 million 2008 projects deliver EBIT of about $225 million – higher than our original expectations and our targeted 10-12% ROCE range Spectra Energy 4Q08 & 2008 Review and 2009 Outlook | February 5, 2009
  • 3. Significant Growth Projects 2009 Expansion Project Segment Status Est. CapEx ($MM) In-Service Steckman Ridge Storage UST Execution 140 1H09 Algonquin J-2 Expansion UST Execution 35 2H09 Northern Bridge UST Execution 45 2H09 Egan Storage (Cavern 3) UST (1/2 SEP) Execution 110 2H09-1H10 Moss Bluff Storage Expansion (Cavern 4) UST (1/2 SEP) Execution 55 2H09-2H11 Sarnia Airport Storage UST Execution 20 2H09 Heritage Storage Dist Execution 15 2H09 West Doe Phase II WC Execution 40 1H09 West Doe Phase III WC Execution 60 2H09 South Peace Pipeline WC Execution 130 2H09 Total 2009 Projects in Execution $ 650 MM • “Execution” – agreement with shippers completed, currently in permitting process and/or in construction • Segments: – UST = U.S. Transmission – UST (SEP) = Part of U.S. Transmission but is Spectra Energy Partners project – Dist = Distribution – WC = Western Canada Transmission and Processing Spectra Energy 4Q08 & 2008 Review and 2009 Outlook | February 5, 2009
  • 4. Well-Positioned for Growth Steckman Ridge Storage • Strategically located storage capacity along Texas Eastern system in Bedford County, PA • Proposed 12 Bcf of storage, 1 compressor station, 7 miles of 16” pipe and 4 miles of lateral pipe • 50/50 partnership with New Jersey Resources • FERC approval received 6/08 • Est. capital expenditures: $140 million (Spectra Energy’s share) • In-service 1H09 Spectra Energy 4Q08 & 2008 Review and 2009 Outlook | February 5, 2009
  • 5. Well-Positioned for Growth AGT J-2 Lateral Expansion • Location: Medford and Somerville, Massachusetts • Scope: Approximately 2 miles of 14-inch diameter loop pipeline • 140 Mmcf/day capacity • Interconnects: •NSTAR Gas Company • Ownership Interest: 100 percent Spectra Energy • Estimated CapEx: $35 million • In-service: 2H09 Spectra Energy 4Q08 & 2008 Review and 2009 Outlook | February 5, 2009
  • 6. Well-Positioned for Growth Northern Bridge • 150 Mmcf/d of new takeaway capacity from REX at Clarington, Oh to Oakford/Delmont, PA • Total project facilities include installation of new HP at Holbrook, PA and uprate of existing HP at Uniontown, PA (10,666 HP total) • Long term firm contracts underpin this expansion • Customers: •BP Energy Company •Merrill Lynch Commodities • Estimated CapEx: $45 million • In-service: 2H09 Spectra Energy 4Q08 & 2008 Review and 2009 Outlook | February 5, 2009
  • 7. Well-Positioned for Growth Egan & Moss Bluff Storage Expansions • Egan and Moss Bluff are strategically located storage along the Gulf Coast interconnecting with 7 and 5 major pipelines, respectively, including Texas Eastern • Egan Cavern #3 Project: – Add 8 Bcf of capacity and 16 miles of 24” pipe – Est. capital expenditures: $110 million–2H09, $50 million–1H10 – Capacity phased-in service 2H09-1H10 • Moss Bluff Cavern #4 Project: – Add 6.5 Bcf of capacity – Est. capital expenditures $55 million–2H09, $60 million–2H11 – Capacity phased-in service 2H09-2H11 Spectra Energy 4Q08 & 2008 Review and 2009 Outlook | February 5, 2009
  • 8. Well-Positioned for Growth Dawn Storage Projects Dawn Area Storage: • Sarnia Airport • 50/50 partnership – over 5 Bcf of capacity - 3 new wells, compressor plant, construct 11 miles of pipeline • Est. CapEx: $20 million (50% share) • In-service 2H09 • Heritage (Sombra) • Acquired about 1 Bcf of capacity • Est. capital expenditures: $15 million • In-service 2H09 Spectra Energy 4Q08 & 2008 Review and 2009 Outlook | February 5, 2009
  • 9. Well-Positioned for Growth West Doe – Phase II & III West Doe Phase II • Expansion to existing West Doe gas plant in Peace River Arch area of northeast BC • Additional gas processing train, gathering pipeline and sales gas tie-ins to process an incremental 30 mmcf/d • Est. capital expenditures of $40 million • In-service 1H09 West Doe Phase III • Further expansion to existing West Doe gas plant • Additional gas processing train and sales gas tie-ins to process incremental 45 mmcf/d • Est. capital expenditures of $60 million • In-service 2H09 • Total capacity of West Doe at 2009 year- end of ~100 mmcf/d Spectra Energy 4Q08 & 2008 Review and 2009 Outlook | February 5, 2009
  • 10. Well-Positioned for Growth South Peace Pipeline • Proposed pipeline and plant modifications in northeast B.C. to connect South Peace resource area to McMahon processing plant • Over 55 miles of 20” pipeline with approximately 220 Mmcf/day capacity • Est. capital expenditures about $130 million • Purchase of Storm Pipeline completed in 2007 for $15 million • In-service 2H09 Spectra Energy 4Q08 & 2008 Review and 2009 Outlook | February 5, 2009
  • 11. Spectra Energy 4Q08 & 2008 Review and 2009 Outlook | February 5, 2009