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SPECTRA ENERGY CORP | SPECTRA ENERGY PARTNERS
November 21, 2013
BoAML 2013 Global Energy Conference
Moving Ahead, Gaining Momentum BoAML 2013 Global Energy Conference | 2
Safe Harbor Statement
Some of the statements in this document concerning future company performance by Spectra Energy and Spectra Energy Partners will be forward-looking within the meanings of the securities laws. Actual results may materially differ from those discussed in these forward-looking statements, and you should refer to the additional information contained in Spectra Energy’s and Spectra Energy Partners’ annual reports on Form 10-K and other filings made with the SEC concerning factors that could cause those results to be different than contemplated in today's discussion.
Reg G Disclosure
In addition, today’s discussion includes certain non-GAAP financial measures as defined under SEC Regulation G. A reconciliation of those measures to the most directly comparable GAAP measures is available at spectraenergy.com and spectraenergypartners.com.
Moving Ahead, Gaining Momentum BoAML 2013 Global Energy Conference | 3
Our Strong Portfolio of Assets
Gas storage facility Gas processing plant Propane terminal NGL storage Shale gas formations Crude storage Major oil pipeline terminal
Natural Gas Transmission Pipe: 19,000 mi Natural Gas Storage Capacity: 300+ Bcf
Natural Gas Gathering Pipe: 68,000 mi Crude Transmission Pipe: 1,700 mi
NGL Transmission Pipe: 1,800 mi SE Gas Processing Capacity: 3.7 Bcf/d
3Q13 DCP Gathered and Processed: 6.6 Tbtu/d
3Q13 DCP NGLs Produced: 442 MBbl/d Distribution Pipe: 39,000 mi
Union Gas Retail Customers: 1.4 million
Moving Ahead, Gaining Momentum BoAML 2013 Global Energy Conference | 4
NYSE: SE
Spectra Energy Asset Structure
Reporting Segment Assets in Segment
Spectra Energy Partners
NYSE: SEP
Gas Transportation & Storage • Algonquin Gas Transmission • Big Sandy Pipeline • Bobcat Gas Storage • East Tennessee Natural Gas • Market Hub Partners • Ozark Gas Transmission
• Saltville Gas Storage • Texas Eastern Transmission • Maritimes & Northeast, US (78%) • Gulfstream Natural Gas (50%) • Southeast Supply Header (50%) • Steckman Ridge (50%)
Liquids • Express-Platte Pipeline System • Southern Hills Pipeline (33%) • Sand Hills Pipeline (33%)
Distribution • Union Gas
Western Canada Transmission & Processing
• BC Pipeline • Gathering & Processing • Natural Gas Liquids • Maritimes & Northeast Canada (78%)
Field Services • DCP Midstream (50%) • DCP Midstream Partners NYSE: DPM
Moving Ahead, Gaining Momentum BoAML 2013 Global Energy Conference | 5
Momentum Driven by Growth Projects
$0
$2
$4
$6
$8
$10
$12
$14
$16
$18
$20
$22
$24
$26
$28
1Q13 3Q13
~$6B
In execution*
Advanced development
Since 1Q13, achieved significant progress by placing into service or commercially securing half of $25+ billion in growth projects
• NJ-NY Expansion • DCP G&P • Express-Platte
acquisition • Sand Hills &
Southern Hills
• Sabal Trail • AIM • TEAM 2014 • Gulf Markets • OPEN • Dawn-Parkway • DCP G&P • Kingsport
• DCP and Western Canada G&P
• NEXUS • BC LNG
• Union Gas • Gulf Coast LNG • DCP and Western
Canada G&P • Renaissance
$25+B
~$7+B ~$8+B
~$10-11B ~$6B
~$5B
~$7B
*Note: More detailed project descriptions can be found in appendix
In service $3+B
On the horizon
Moving Ahead, Gaining Momentum BoAML 2013 Global Energy Conference | 6
Progress on Projects in Advanced Development
W. Canada G&P Ongoing Montney growth; longer term, LNG exports
drive G&P growth
BC - LNG Front-end engineering
and design phase underway; FID 2015-16
Express-Platte Broad range of
expansion opportunities under evaluation
Gulf Coast Several projects in
development related to LNG exports & industrial
infrastructure
NEXUS Working with partners
to move this cross-border project into execution
Moving Ahead, Gaining Momentum BoAML 2013 Global Energy Conference | 7
FIELD SERVICES
WESTERN CANADA
U.S. TRANSMISSION
DISTRIBUTION
CRUDE/LIQUIDS
Financial Flexibility to Efficiently Fund $25+ Billion in Growth Projects
$1+B ~$7B
~$10B $6B In Service In Execution Advanced Development On the Horizon
SE Financed SEP Financed DCP Financed
$2+B
Moving Ahead, Gaining Momentum BoAML 2013 Global Energy Conference | 8
~$6B Projects Placed In-Service
~$7B Projects Secured
~$20B MLP Structure In Place
We are Moving Ahead, Gaining Momentum
Building out our current slate of
secured projects and continued operational
excellence
Signing new customer contracts
for additional natural gas, NGL, & crude infrastructure
Realizing new opportunities
through the full utilization of our
financial structure
WHAT WE HAVE ALREADY ACCOMPLISHED IN 2013…
…ONGOING FOCUS ON VALUE CREATION BY: