Spectra Energy to acquire Brazoria Interconnector Gas Pipeline

Spectra Energy Corp and Spectra Energy Partners have announced that, through their affiliate, Spectra Energy Transmission II, LLC (SET), they have entered into a purchase and sale agreement to acquire from ConocoPhillips Company 100% of the equity interests in Brazoria Interconnector Gas Pipeline, LLC (BIG), which owns the BIG Pipeline.

The BIG Pipeline is a 42 in. natural gas pipeline in Brazoria County, Texas, with a capacity of approximately 1.8 billion ft3/d. It extends 30.5 miles between Stratton Ridge on its south end to a point near Iowa Colony in northern Brazoria County. The newly acquired BIG Pipeline will be a component of the Stratton Ridge Project, an expansion project of the Texas Eastern Transmission pipeline system to deliver up to 400 000 dkth/d of natural gas to Stratton Ridge, Texas. The Stratton Ridge Project, including the BIG Pipeline acquisition, has an expected capital expenditure of approximately US$200 million and is anticipated to be in service the first quarter of 2019. The acquisition is expected to close in the second quarter of 2016, subject to certain conditions precedent being met.

Adapted from press release by Rosalie Starling

Published on 23/01/2015

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