System Purchase Moves Spectra Into Crude Oil Pipeline Business

摘要

Spectra Energy has agreed to purchase the 1,700 mile Express-Platte pipeline system, marking the natural gas pipeline company's first foray into crude oil transportation in North America. The deal gives Spectra ownership of the Express pipeline, which runs from Hardisty, Alberta, to Casper, Wyoming, and the adjoining Platte pipeline, which runs from Casper to Wood River, Illinois. The 280,000-barrel-per-day Express pipeline carries heavy Canadian crude to refineries in Montana and Wyoming.