Spectra Energy Acquires Express-Platte Pipeline System

            Spectra Energy Acquires Express-Platte Pipeline System

Acquisition of North American Crude Oil Pipeline System Expands Spectra
Energy's Midstream Energy Business

PR Newswire

HOUSTON, March 14, 2013

HOUSTON, March 14, 2013 /PRNewswire/ -- Spectra Energy Corp (NYSE: SE) today
announced it has closed its previously announced acquisition of the
Express-Platte Pipeline System, purchasing 100 percent interest in the
1,717-mile, crude oil system for $1.49 billion.

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"The Express-Platte Pipeline System will bring immediate benefit to Spectra
Energy's shareholders, expanding our portfolio with crude oil transportation
and storage assets producing earnings on day one," said Greg Ebel, president
and chief executive officer, Spectra Energy Corp. "This strategically located
system gives Spectra Energy instant scale and scope in this rapidly growing
space. As we've seen in our natural gas and natural gas liquids businesses, we
anticipate these assets also will provide numerous growth opportunities in
related crude and refined products services as volumes and flows evolve in the
coming years. And finally, the escalating fee-based cash flow profile of
Express-Platte makes it an ideal future drop-down candidate to our master
limited partnership, Spectra Energy Partners."

Duane Rae, president, Spectra Energy Liquids, assumes leadership of the
Express-Platte System as part of his overall responsibility for developing
Spectra Energy's crude oil infrastructure business. Mr. Rae most recently
served as vice president of field services for Spectra Energy Transmission's
operations in Western Canada and previously held the role of president for
Spectra Energy Midstream.

The Express-Platte Pipeline System, which begins in Hardisty, Alberta, and
terminates in Wood River, Illinois, includes the Express and Platte crude oil
pipelines. The Express pipeline carries crude oil to refining markets in the
Rocky Mountain states. The pipeline's capacity is 280,000 barrels a day. The
Platte pipeline, which interconnects with the Express pipeline in Casper,
Wyoming, transports crude oil predominantly from the Bakken and Western Canada
to refiners in the Midwest. Platte's capacity ranges from 164,000 barrels a
day in Wyoming to 145,000 barrels a day in Illinois.

The Express-Platte System is one of just three major pipelines moving crude
oil from Western Canada to the U.S. The system also serves the Bakken and
Niobrara shale oil plays. The acquisition represents a significant opportunity
for Spectra Energy to participate in the rapidly expanding North American
crude oil transportation and storage market.

This release includes "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements represent our intentions,
plans, expectations, assumptions and beliefs about future events. Such
statements are subject to risks, uncertainties and other factors, many of
which are outside our control and could cause actual results to differ
materially from the results expressed or implied by those forward-looking
statements. Those factors are described in our Form 10-K, filed with the
Securities and Exchange Commission, and other filings that we make with the
SEC, which are available at the SEC's website at www.sec.gov. In light of
these risks, uncertainties and assumptions, the events described in the
forward-looking statements might not occur or might occur to a different
extent or at a different time than we have described. We undertake no
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.

Spectra Energy Corp (NYSE: SE), a FORTUNE 500 company, is one of North
America's premier pipeline and midstream companies. Based in Houston, Texas,
the company's operations in the United States and Canada include more than
22,000 miles of natural gas, natural gas liquids, and crude oil pipelines,
approximately 305 billion cubic feet (Bcf) of natural gas storage, as well as
natural gas gathering and processing, and local distribution operations. The
company also has a 50 percent ownership in DCP Midstream, the largest producer
of natural gas liquids and one of the largest natural gas gatherers and
processors in the United States. Spectra Energy has served North American
customers and communities for more than a century. The company's longstanding
values are recognized through its inclusion in the Dow Jones Sustainability
World and North America Indexes and the Carbon Disclosure Project's Global 500
and S&P 500 Carbon Disclosure Leadership Indexes. For more information, visit

SOURCE Spectra Energy Corp

Website: http://www.spectraenergy.com
Contact: Media: Caitlin Currie, +1-713-627-5353, +1-713-627-4747 (24-hour
media line), Analysts: John Arensdorf, +1-713-627-4600
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