Spectra Energy Still Bullish in Utica Pipelines

It’s been a week of disheartening news for the Utica shale play. A pipeline that would have taken natural-gas liquids from the Utica and Marcellus shale to the Gulf Coast was suspended because of a lack of customer interest, and British energy giant BP Plc (NYSE: BP) said it’s leaving its northeastern Ohio shale acreage because of disappointing well activity.

But some good news: Houston-based Spectra Energy Corp. is still on track for its $468 million Open Project pipeline from Ohio to the Gulf Coast.

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