HOUSTON, Jan. 31, 2007 (Canada NewsWire via COMTEX News Network) -- CenterPoint Energy Gas Transmission Company, a subsidiary of CenterPoint Energy, Inc. (NYSE: CNP), and Spectra Energy have agreed to discontinue the development of their joint Mid-Continent Crossing (MCX) pipeline. The MCX route was planned to move natural gas from the mid-continent basins to key interconnects serving the U.S. Northeast and Southeast markets.

<<

(Logo: http://www.newscom.com/cgi-bin/prnh/20061030/CLM051LOGO )

>>

"Market and economic analyses do not support the construction of the proposed pipeline at this time," the two companies said in a joint statement. "We will continue to independently evaluate opportunities for building infrastructure to transport mid-continent natural gas supplies including projects in the vicinity of the proposed MCX pipeline. We continue to believe that there is a need for infrastructure that supports producer efforts to bring these non-traditional natural gas supplies to the eastern markets and should the appropriate project present itself, we would be willing to look at it jointly."

<<

About the Companies

>>

CenterPoint Energy, Inc. (NYSE: CNP), headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution, competitive natural gas sales and services, and pipeline and field services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas. Through subsidiaries, the company owns and operates two interstate natural gas pipelines, CenterPoint Energy Gas Transmission Company and CenterPoint Energy-Mississippi River Transmission Corporation. Assets total approximately $17 billion. With about 9,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 130 years. For more information, visit the Web site at www.CenterPointEnergy.com.

Spectra Energy Corp (NYSE: SE) is one of North America's premier pure play natural gas midstream companies serving three key links in the natural gas value chain: gathering and processing, transmission and storage and distribution. For close to a century, Spectra Energy and its predecessor companies have developed critically important pipelines and related energy infrastructure connecting natural gas supply sources to premium markets. Based in Houston, Texas, the company operates in the United States and Canada approximately 17,500 miles of transmission pipeline, 250 billion cubic feet of storage, natural gas gathering and processing, natural gas liquids operations and local distribution assets. Spectra Energy Corp also has a 50 percent ownership in DCP Midstream, one of the largest natural gas gatherers and processors in the United States. Visit www.spectraenergy.com for more information.

<<

Forward-looking statement

>>

This news 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. The statements in this news release regarding future events and other statements that are not historical facts are forward-looking statements. Although CenterPoint Energy and Spectra Energy believe that their respective expectations of future events as set forth in this release are based on reasonable assumptions, neither CenterPoint Energy nor Spectra Energy can give assurance that anticipated results will be achieved or that anticipated events will occur. Actual events and results may differ materially from those projected. Important factors that could cause actual results to differ materially from those in the forward-looking statements of CenterPoint Energy herein are discussed in CenterPoint Energy's and its subsidiaries Form 10-Ks for the year ended Dec. 31, 2005, and Form 10-Qs for the quarters ended March 31, June 30 and Sept. 30, 2006, and other filings with the Securities and Exchange Commission. Important factors that could cause actual results to differ materially from those in the forward-looking statements of Spectra Energy herein are discussed in Spectra Energy's Form 10, as amended, filed on Dec. 6, 2006, and other filings with the Securities and Exchange Commission.

<<

Media: Leticia Lowe

CenterPoint Energy

(713) 207-7702

Gretchen Krueger

Spectra Energy

(713) 627-4072

(713) 627-4747 (24-hour media line)

Analysts: Marianne Paulsen

CenterPoint Energy

(713) 207-6500

John Arensdorf

Spectra Energy

(713) 627-4600

>>

SOURCE: Spectra Energy Corp.

media, Leticia Lowe, +1-713-207-7702, of  CenterPoint Energy, or Gretchen Krueger,
+1-713-627-4072 or +1-713-627-4747, of  Spectra Energy; analysts, Marianne Paulsen,
+1-713-207-6500, of CenterPoint  Energy, or John Arensdorf, +1-713-627-4600, of
Spectra Energy Web Site: http://www.spectraenergy.com/

Copyright (C) 2007 CNW Group. All rights reserved.

News Provided by COMTEX