Date Closed

December 1, 2008

Lead Office

Calgary

Value

129.00 Million CAD

On December 1, 2008, Spectra Energy completed the sale of Spectra Energy Midstream's Nevis and Brazeau River natural gas gathering and processing facilities located in West Central Alberta. The facilities were sold to a wholly owned subsidiary of Keyera Facilities Income Fund (“Keyera”), for a purchase price of approximately C$129 million before closing adjustments. Pursuant to this transaction, Keyera acquired an additional 40% interest in the Keyera Brazeau River gas plant, bringing Keyera’s ownership in this facility to 91.6%, and a 100% interest in the Nevis gas plant. Keyera also acquired extensive gathering pipeline systems, compression and other facilities at both plants.

McCarthy Tétrault LLP advised Spectra Energy with a team led by John Osler.