Spectra gets partner for $3B natural gas expansion
Houston-based Spectra Energy’s proposed $3 billion natural gas expansion for New England is receiving help from the region’s largest electric utility as part of a new partnership.
The Bangor Daily News reported that Spectra on Tuesday announced Northeast Utilities as a co-investor in the company’s plan to expand two major natural gas pipelines in New England. The two companies will share an equal investment in the $3 billion project.
Spectra’s project, which was announced in June, could be operational as soon as 2018, but in the meantime, local distribution companies are being sought to expand pipeline capacity, Marylee Hanlee, a spokeswoman for Spectra, told the BDN. She said the project can only continue if Spectra and Northeast receive commitments from other companies.
The newspaper noted that Spectra’s project will help move forward a regional effort to expand natural gas capacity, without the help of pending investments from New England states.
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