Spectra Energy Corp (Houston, USA) and Northeast Utilities (Massachusetts, USA) announced details of the Access Northeast gas pipeline project, designed to bring an additional 1 bcf/d of natural gas into New England to meet growing demand. The gas pipeline expansion project will enhance the Algonquin and Maritimes pipeline systems and de-bottleneck the pipeline system in the North Eastern States of the United States were no new gas pipeline have been commissioned over the past 20 years. During a period of low temperatures winter 2014, wholesale electricity prices briefly reach US$1,290/MWh, compared to a yearlong average of US$36/MWh because of a natural gas shortage. The Access Northeast project is estimated to cost US$3bn. Both companies plan to seek regulatory approvals from Federal Energy Regulatory Commission (FERC) by early 2015, while the gas pipeline project is expected to go on stream in November 2018. If approved, the Access Northeast project would complement an earlier proposal by Spectra to expand the Algonquin pipeline by adding 40 miles of pipe (40 km) that also needs FERC approval. The project is scheduled to be completed in the winter of 2016-17.
Source: Spectra Energy