When the $320 million Phase IV Project is completed, the year-round mainline design capacity of the Maritimes system will increase by approximately 400 million cubic feet per day (Mmcf/d) to almost 800 Mmcf/d. Firm transportation capacity of 700 Mmcf/d will be held by Repsol Energy North America, the subsidiary of Repsol YPF that will sell its regasified liquefied natural gas (LNG) in the US marketplace.
"As construction progresses, Maritimes remains on schedule to begin delivering critically needed natural gas supply to markets next year," said Doug Bloom, president, Maritimes & Northeast Pipeline. "The efficient expansion of the Maritimes system will enhance the reliability of natural gas supply and provide more energy options for consumers throughout the region."
Maritimes will transport on its existing pipeline system regasified LNG sourced from the Canaport(TM) LNG receiving and re-gas terminal currently being constructed in Saint John, New Brunswick. Canaport(TM) LNG is a limited partnership of subsidiaries of Repsol YPF and Irving Oil Limited. Repsol Energy Canada has contracted for 100% of Canaport(TM) LNG's capacity.
"Construction of Canaport(TM) LNG continues on schedule and will commence operations during fourth quarter 2008," said Phil Ribbeck, chairman of the executive committee of Canaport(TM) LNG and director of LNG North America for Repsol YPF. "We are working diligently in concert with the pipelines to ensure that safe, clean and secure energy will reach the market in a timely manner, supporting its current and future needs."
This year Maritimes will construct new compressor stations in Searsmont and Brewer, Maine, and make modifications to an existing compressor station in Richmond, Maine. In 2008, construction will include new compressor stations in Woodchopping Ridge, Westbrook, and Eliot, Maine, and approximately 1.7 miles of 30-inch diameter pipeline in Baileyville, Maine, along with modifications to existing meter facilities in Baileyville, Maine and Dracut, Mass.
Maritimes & Northeast Pipeline, L.L.C. is owned by affiliates of Spectra Energy Corp (77.53 percent), Emera Inc. (12.92 percent) and ExxonMobil Corporation (9.55 percent). Maritimes is headquartered in Halifax, Nova Scotia, with an additional office in Waltham, Mass. Operations centers are located in Fredericton, New Brunswick; New Glasgow, Nova Scotia; Greenland, New Hampshire; and Richmond, Brewer and Baileyville, Maine.
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