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NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp.

Spectra Energy Corp. · Nov 4, 2013 · 88 slides

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Slides

  1. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 1
    SPECTRA ENERGY CORP SPECTRA ENERGY PARTNERS Supplemental Information Appendix November 4, 2013
  2. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 2
    Appendix Section I Overview
  3. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 3
    Our Strong Portfolio of Assets d 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 Gas…
  4. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 4
    Appendix Section II 3Q13 Earnings & Other Financial Information
  5. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 5
    3Q13: U.S. Transmission d YTD YTD (MM) 3Q13 3Q12 3Q13 3Q12 Reported Segment EBIT 246 238 760 746 Special Items 4 4 Ongoing Segment EBIT 250 238 764 746 3Q13 ongoing segment results were 12 million higher than 3Q12 mostly due…
  6. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 6
    3Q13: Distribution d YTD YTD (MM) 3Q13 3Q12 3Q13 3Q12 Reported Segment EBIT 34 55 267 281 Special Items Ongoing Segment EBIT 34 55 267 281 3Q13 ongoing segment results were 21 million lower than 3Q12 mostly due to: Lower…
  7. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 7
    3Q13: Western Canada Transmission & Processing d YTD YTD (MM) 3Q13 3Q12 3Q13 3Q12 Reported Segment EBIT 90 83 275 315 Special Items Ongoing Segment EBIT 90 83 275 315 3Q13 ongoing segment results were 7 million higher than 3Q12…
  8. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 8
    3Q13: Field Services YTD YTD d (MM) 3Q13 3Q12 3Q13 3Q12 EBIT before MTM at DPM 137 62 270 218 DPM Non-cash MTM (1) 1 3 Reported Segment EBIT 137 62 271 221 Special Items Ongoing Segment EBIT 137 62 271 221 (1) Excludes…
  9. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 9
    3Q13: Liquids d YTD YTD (MM) 3Q13 3Q12 3Q13 3Q12 Reported Segment EBIT 33 N/A 71 N/A Special Items Ongoing Segment EBIT 33 N/A 71 N/A YTD EBIT significantly higher than anticipated due to: Higher Express rates and volumes Lower…
  10. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 10
    Additional Items d (MM) 3Q13 3Q12 Interest Expense 167 159 Income Tax Expense 85 72 Canadian Exchange Rate 1.04 1.00 As of 09/30/13 Debt to Total Capitalization 62.1% Total Credit Capacity 2.9 Billion Available Liquidity…
  11. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 11
    3Q13: Ongoing EBITDA d YTD YTD (MM) 3Q13 3Q12 3Q13 3Q12 U.S. Transmission (1) 327 315 992 977 Distribution 83 109 418 440 Western Canada 147 133 442 460 Field Services (2) 214 113 464 395 Liquids (3) 44 n/a 91 n/a Other (6) (15)…
  12. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 12
    Liquidity Positions d As of 9/30/13 in USD millions Spectra Capital Westcoast Union Gas SEP TOTAL Revolving Credit Commitments 1,500 291 388 700 2,879 Less: Commercial Paper (1,227) (158) (119) (545) (2,049) Letter of Credit…
  13. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 13
    Debt Maturity Profile as of 9/30/13 USD Millions d 120 Express-Platte 100 SE Capital 2,000 SE Partners 80 M&N - Can 1,800 60 M&N - US Union Gas 40 1,600 Westcoast 20 East Tenn Algonquin 1,400 0 TETLP Dec-13 Oct-13…
  14. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 14
    Customer Credit Exposure as of 6/30/13 d Spectra Energys customer mix is made up of primarily high quality credits 34% 35% A or Higher BBB- to BBB+ 11% Investment Grade Equivalent 7% 13% Non-Investment Collateral…
  15. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 15
    2013 Plan*- Ongoing Earnings Expectations d 1.50 ongoing, fully diluted EPS (1) (MM) EBIT (1) EBITDA (1) U.S. Transmission 1,030 1,345 (2) Distribution 375 580 Western Canada Transmission & Processing 380 615 Field Services (3)…
  16. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 16
    The Power of Our Portfolio d Ongoing EBIT by Segment (MM) 2,500 2,263 2,029 1,923 1,975 2,000 1,660 1,500 Field Services 1,000 Distribution Western Canada 500 US Transmission 0 Other -500 2009 2010 2011 2012 2013E* *…
  17. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 17
    Expansion and Maintenance Capital Expenditures d Capital Expenditures (MM) 2,500 Expansion Maintenance 2,000 1,500 1,385 1,139 1,297 1,503 1,000 1,003 719 517 500 498 527 524 637 780 735 790 0 2007 2008 2009 2010…
  18. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 18
    Total Capital Expenditures d Capital Expenditures by Segment (USD MM) 2,500 35 66 2,000 78 289 373 276 292 365 39 1,500 222 39 369 757 524 32 227 776 1,000 195 224 449 1,400 353 500 898 933 997 641 773 432 0 2007…
  19. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 19
    2013 Plan*- Key Commodity Assumptions & Sensitivities d Annual Assumption Price Change Sensitivity +/- 6.5 MM DCP Midstream NGL: 0.80/gal +/- 0.01/gal EBIT Represents Spectra Energys 50% interest in DCP Midstream Natural Gas:…
  20. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 20
    2013 Plan*- Example of Different Commodity/Currency Price Effects on EPS 5% decrease in d Commodity and Hypothetical Commodity Price Change 2013 EPS Assumptions C/USD NGL Price (/gal) 0.80 0.76 Natural Gas annual price (/MMBtu)…
  21. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 21
    Spectra Energy Partners: Pro Forma Financial Profile d Spectra Energy Partners: SEP Distributions as Paid (/unit) 2014e EBITDA: 1.48 billion 2.50 2014e maintenance capex: 300 million 2.25 2.41 2014e interest expense: 250 million…
  22. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 22
    Spectra Energy: Pro Forma Financial Profile d Spectra Energy: GP Distribution(1) Growth (MM) 250 84%, including 2% GP interest Ownership in SEP on closing: 240 million LP units 225 200 6 million GP units 2015e GP…
  23. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 23
    Spectra Energy Pro Forma Segment Overview d New structure maintains Spectra Energys significant scale, geographic reach, portfolio diversity and financial flexibility 2013e 1,345 580 615 580 EBITDA* (UST only) (MM) SEP…
  24. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 24
    Appendix Section III U.S. Transmission Overview
  25. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 25
    U.S. Transmission d Transmission Pipe 14,274 mi Total System Compression 2.5MM HP Total Storage Capacity 140 Bcf Access to multiple supply sources One of the largest storage positions in North America (140 Bcf) Largest…
  26. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 26
    U.S. Transmission Strong Base Portfolio d Pipelines are fully subscribed First and last mile throughput continues to increase Increased market utilization of fully subscribed pipelines leads to new projects Moving Ahead,…
  27. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 27
    U.S. Transmission 2013 2014 Priorities d Business Unit Priorities Growth CapEx Outlook Secure new projects that On the Horizon 10+B In Execution TEAM 2014 facilitate growing supply and Renaissance Kingsport Power emerging…
  28. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 28
    U.S. Transmission Adjusted EBIT Annual EBIT d Growth Adjusted for Project Development Costs & Processing (MM) 1,200 1,000 1,003 1,030 912 970 800 819 856 780 600 400 200 0 2007 2008 2009 2010 2011 2012 2013E*…
  29. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 29
    U.S. Transmission Contract Portfolio d 95% of U.S. Transmission revenue comes from demand charges 2012 TETLP Firm Demand Revenues by 2012 TETLP Firm Demand Revenues by Service Provided Customer Type LDCs 65% Long Haul 42%…
  30. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 30
    Solid Fee-Based Businesses d Average Contract Term for Major U.S. Transmission Pipelines (years) 0 5 10 15 20 25 Texas Eastern 4.9 Algonquin 7.3 East Tennessee 8.6 2013 YTD Maritimes & Northeast (US) 19.8 Texas Eastern &…
  31. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 31
    U.S. Transmission Revenue Stability d Based on Revenues for 12 months ended 12/31/12 100% 90% 95% 98% 97% 98% 96% 98% 92% 80% 70% 60% 50% 40% 30% 20% 2012 Reservation Revenue 2012 Usage and Other Revenue 10% 0%…
  32. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 32
    Appendix Section IV Distribution Overview
  33. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 33
    Distribution Stable and Reliable Earnings and Cash Flow d Retail Customers 1.4 million Union Gas 2nd largest natural 2012 Pipeline Throughput 818 Bcf gas distributor in Canada Distribution Pipe 39,000 mi Storage Capacity 160 Bcf…
  34. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 34
    Distribution EBIT d Annual EBIT (C millions) 500 400 C421 C421 C391 C375 C375 C373 300 C354 200 100 0 2007 2008 2009 2010 2011 2012 2013E* US 322 353 336 409 425 374 375 * As presented in January 2013 Moving…
  35. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 35
    Appendix Section V Western Canada Transmission & Processing Overview
  36. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 36
    Western Canada Transmission & Processing d Assets located in some of Natural Gas Gathering & Processing the most productive fields Miles of raw gas gathering: 2,200 (3,500 km) within Canada 17 gas processing plants Processing…
  37. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 37
    Western Canada Businesses 2013 Ongoing EBIT Expectations d SET West 2013E* EBIT BC US380 Million (1) Transmission Pipeline Fee- 30% & Processing based G&P 70% Gathering & Processing NGL Marketing Business BC Pipeline…
  38. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 38
    Western Canada Transmission & Processing EBIT d 550 Annual EBIT (C millions) C505 450 C416 C420 C106 C387 C385 C388 C380 C89 350 C176 C107 C150 250 C436 C399 C380 150 C331 C281 C235 C240 Commodity Based 50 (Empress)…
  39. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 39
    Western Canada 2013 2014 Priorities d Business Unit Priorities Growth CapEx Outlook Focus on operations excellence 7+B and asset optimization In Execution On the Horizon North Montney Break-even at Empress in 2013 G&P expansion…
  40. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 40
    Western Canada Strategically Positioned Backbone of BC Natural Gas Industry d Significant BC footprint Liard Cordova Horn River Gathering & Processing Plants: 17 N. Montney Capacity: 3.7 Bcf/d Prince Rupert BC Pipeline Montney…
  41. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 41
    Western Canada LNG Exports Drive Step-out Growth d LNG Opportunities Liard Horn River Cordova BG Group/Prince Rupert Development agreement with BG 6-8B CapEx (100%) 4.2 Bcf/d, 525 miles of 48 pipe Prince Rupert Montney FID…
  42. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 42
    Developing World Class Unconventional Reserves d Horn River Resource Potential (Tcf) Liard Cordova Horn River 450 Montney 410 Western Cordova 160 Canadian Prince Rupert Montney Sedimentary Basin Liard 125 (WCSB) Kitimat BC…
  43. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 43
    Supply/Demand Opportunities Attracting Global Capital Investment d Investments in BC (B) E&P: Natural gas development 140-200 E&P LNG Infrastructure: Investments LNG terminals 30-40 Prince Rupert Pipelines supplying terminals…
  44. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 44
    Appendix Section VI Liquids Overview
  45. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 45
    Liquids Express-Platte Pipeline System d Acquired 100% of the Express-Platte Pipeline System for 1.49 billion one of only three crude oil pipelines from Western Canada to U.S. Rockies and Midwest refineries and markets OIL…
  46. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 46
    North American Crude Oil A Significant Growth Opportunity d OIL SANDS Pipeline Transfer Capacity Growth Hardisty 2011 v 2016e (Thousand barrel/day = KB/d) Increase of 1,573KB/d BAKKEN PADD +250% PADD 4 Increase of 550 KB/d 2…
  47. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 47
    Express-Platte Leveraging a New Platform in Oil Transportation d OIL SANDS Expanding unconventional oil Hardisty production driving significant growth opportunities Increasing Canadian oil sands, BAKKEN Bakken and Niobrara…
  48. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 48
    Liquids - Southern Hills and Sand Hills Pipelines Gas processing plant d Shale gas formations Under construction Provides Permian and Eagle Ford shippers with NGL transportation Conway service to Gulf Coast markets Provides…
  49. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 49
    Appendix Section VII Field Services Overview
  50. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 50
    Field Services d Competitive Advantages 63 Plants, 12 Fractionators Premier US gas gatherer and 66,000 miles of Pipeline* processor Largest natural gas liquids (NGL) producer in the U.S. Located in most major oil & gas producing…
  51. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 51
    Integrated Assets with Scale & Scope d Continue to be 1 NGL producer, Industry leading footprint in liquids rich regions 17% of U.S. NGL production Top gatherer and processor Super systems in key basins Complementary NGL…
  52. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 52
    DCP Midstream 2013 2016 Priorities d Business Unit Priorities Growth CapEx Outlook In Execution Bring significant projects on line 6+B Front Range On the Horizon Keathley Focus on operations excellence G&P expansion Canyon Natl…
  53. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 53
    DCP Midstream Gathering & Processing Liquids-rich and Oil Driven Growth d Niobrara /Codell North 3B - 4B CapEx 2013-2015 Plant 10 O'Conner 2012 NGL Processing 2013-2015 CapEx Lucerne 2 Production (MBPD) Capacity (Bcf/d) (MM )…
  54. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 54
    DCP Midstream Marketing & Logistics Creating a Super System d 2B - 3B CapEx 2013-2014 Niobrara /Codell Plant 10 NGL super system to premium priced markets O'Conner Significant Lucerne 2 Mewbourn Wattenberg fee-based Market access…
  55. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 55
    2013 Plan* DCP Midstream: Financial Summary d DCP Midstream Earnings (100%) ( MM) 2013E EBITDA (1) 1,090 EBIT (1) 780 50% DCP Net Income 275 Net Income (1) 550 + Equity Issuance Gains 35 = SE EBIT 310 Distributions 475 1)…
  56. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 56
    2013 Plan*- DCP Midstream: Margin / Volume By Contract d 2013E Margin by Contract Type(1) 2013 Estimated G&P Volumes & Margin(1) Keepwhole 10% Other(2) Margins Volumes ( /MMBtu) (TBtu/d)(3) 30% Percent of 0.50 5.5 Proceeds…
  57. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 57
    Owner and Investor Value Creation d 4-5% price- Potential neutral earnings 3.5B - 4.5B growth & cash GP valuation to distributions owners Targeting 90% net income dividend to SE & PSX 200 120 GP & LP distribution…
  58. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 58
    Appendix Section VIII Spectra Energy Partners
  59. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 59
    Spectra Energy Partners Moving Ahead, Building Value d One of the largest fee-based, growth-oriented master limited partnerships, with long-term contracts & no direct commodity exposure Premier portfolio of natural gas, natural gas…
  60. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 60
    Transaction Overview d Drop-down of Spectra Energys Remaining U.S. Transmission, Storage & Liquids Assets Total Consideration(1) 172 million LP units SEP units: 3.5 million GP units 2.3 billion primarily from SEP debt…
  61. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 61
    Assets Included in the Drop-down d Assets Included in the Drop-down Natural Gas Transmission & Storage Texas Eastern Transmission (100%) Algonquin Gas Transmission (100%) An additional 38.77% of Maritimes & Northeast Pipeline,…
  62. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 62
    Spectra Energy Partners 3Q13 Cash Available for Distribution d YTD YTD (MM) 3Q13(1) 3Q12 3Q13(1) 3Q12 Adjusted EBITDA 46.1 37.0 124.3 119.8 ADD: Cash available from equity investments Gulfstream 49% 19.5 19.3 58.8 57.8 Market…
  63. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 63
    Spectra Energy Partners 3Q13 Earnings Summary d YTD YTD (MM) 3Q13(1) 3Q12 3Q13(1) 3Q12 Operating Revenues 133.1 57.2 336.8 177.8 Operating Expenses 74.0 29.5 179.3 85.9 Operating Income 59.1 27.7 157.5 91.9 Equity Earnings…
  64. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 64
    Spectra Energy Partners Revenue Profile d Nine months ended September 30, 2013 Nine Months Ended September 30, 2013 Revenues SEP SEP Share of Liquids(2) ( MM, unaudited) 100% Ownership% Revenues Gas Transportation & Storage(1)…
  65. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 65
    Spectra Energy Partners Gas Transportation and Storage d YTD YTD (MM) 3Q13 3Q12 3Q13 3Q12 Operating Revenues 56.8 57.2 174.6 177.8 Operating Expenses 27.3 27.6 80.8 80.0 Operating Income 29.5 29.6 93.8 97.8 Other Income 0.3 0.6…
  66. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 66
    Spectra Energy Partners Liquids d YTD YTD (MM) 3Q13(1) 3Q12 3Q13(1) 3Q12 Operating Revenues 76.3 162.2 Operating Expenses 39.8 86.6 Operating Income 36.5 75.6 Other Income 0.2 0.5 Noncontrolling Interests 17.6 38.2…
  67. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 67
    Spectra Energy Partners Equity Investments d YTD YTD (MM) 3Q13 3Q12 3Q13 3Q12 Equity Earnings: Gulfstream 49% 17.5 16.8 49.7 46.6 Market Hub Partners 50% 6.5 9.6 21.6 31.0 M&N US 38.76%(1) 6.5 20.2 Total Equity Earnings 30.5…
  68. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 68
    Spectra Energy Partners Financial Position d Balance Sheet Summary (9/30/13) Investment grade credit ratings Debt Balance 3.4 billion S&P (BBB) Available Liquidity 231 million Fitch (BBB) Other Investments(1) 2.0 billion Moodys…
  69. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 69
    Spectra Energy Partners Debt and Available Liquidity Spectra Energy Partners (MM, unaudited) d Sept 30, 2013 December 31, 2012 Commercial Paper 545 336 MHP Demand Note(1) 16 17 East Tennessee Notes Payable (3.1%; matures 2024) 200…
  70. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 70
    Spectra Energy Partners Gulfstream Debt d ( MM, unaudited) Sept 30, 2013 Gulfstream Natural Gas System, LLC Debt (1) 100% 49% Unsecured 15 year note (5.56%; due 2015) 500 245 Unsecured 25 year note (6.19%; due 2025) 350 172…
  71. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 71
    Spectra Energy Partners Maritimes & Northeast US Debt d ( MM, unaudited) Sept 30, 2013 Maritimes & Northeast Pipeline, LLC Debt(1) 100% 38.76% Unsecured 5 year notes (7.5%; due 2014) 420 163 Total Debt 420 163 2013 Amortizing…
  72. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 72
    Appendix Section IX Major SE Projects
  73. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 73
    SE Current Projects in Execution d Expansion Project Segment Status (1) Est. CapEx (MM) In-Service NJ-NY US Trans In-Service 1,200 4Q13 North Montney Expansions W. Canada Partial In-Service 300 4Q12-2014 Kingsport US Trans…
  74. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 74
    New Jersey New York Expansion Project Purpose: d Extends Texas Eastern reach farther into New Jersey and into New York City for the first time Project Scope: 800 MMcf/d expansion connecting Northeastern PA Marcellus supplies with…
  75. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 75
    North Montney Expansions Purpose: d Provides customers with North Montney gathering & processing and pipeline take- away capacity Project Scope: CapEx: 300 MM Major Customers: Progress Energy Talisman Energy Project Status:…
  76. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 76
    Kingsport Projects d Purpose: Provides additional firm transportation capacity to support supply diversity for Eastman Chemical Companys power generation facility in Kingsport, Tennessee Project Scope: 25 Mmcf/d of firm capacity…
  77. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 77
    Bobcat Storage Purpose: d Expanded capacity to provide high- deliverability storage services to Midwest, Mid-Atlantic and Gulf Coast Markets Project Scope: Increase storage capacity by 32 BCF Increase peak injection and…
  78. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 78
    Texas Eastern Appalachian Market TEAM 2014 d Purpose: Provides Producer Customers with diverse firm path options from Marcellus region to Northeast, Midwest and Henry TEAM 2014 Hub market areas Project Scope: 600 MMcf/d…
  79. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 79
    Uniontown to Gas City (U2GC) d Purpose: Expansion of Texas Eastern from Appalachian area receipts to markets at Gas City, Indiana Project Scope: Capacity: 425 MMcf/d CapEx: 60 MM Customers: Disclosure pending Project Status:…
  80. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 80
    Salem Lateral d Purpose: Provide natural gas service to a new power plant development on the site of an existing coal-fired plant Project Scope: 115 MMcf/d expansion connecting AGT Hubline and MNE to the new power plant CapEx:…
  81. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 81
    Ohio Pipeline Energy Network (OPEN) d Purpose: Attach emerging Ohio Marcellus and Utica natural gas supplies to new markets Project Scope: 550 MMcf/d expansion of Texas Eastern CapEx: 500MM Customers: 2 anchor shippers (15…
  82. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 82
    Gulf Markets Expansion d Purpose: Provides Texas Eastern transportation service for Gulf Coast markets Project Scope: 350 MMcf/d expansion from Marcellus (M2) to Louisiana (WLA) 150 MMcf/d expansion from Eagle Ford (STX) to…
  83. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 83
    Algonquin Incremental Market (AIM) Expansion d Purpose: Provide growing New England demand with access to abundant regional natural gas supplies Project Scope: Providing 340 MMcf/d of additional capacity to move Marcellus…
  84. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 84
    Sabal Trail Transmission Expansion Purpose: d New interstate pipeline into Florida providing access to reliable onshore natural gas supply Project Scope: 1 Bcf/d of capacity connecting Transco Station 85 supply to Florida power…
  85. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 85
    Appendix Section X Sustainability Recognition
  86. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 86
    Sustainability d For Spectra Energy, Sustainability means: Providing natural gas, liquids and crude oil pipelines and midstream infrastructure to meet North Americas energy needs in a way that is economically, environmentally and…
  87. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 87
    Sustainability Recognition d Environmental Social Governance Performance Dow Jones Sustainability 3rd time on the World Index and 5th consecutive Index on North America Index Carbon Disclosure Project Member of the Carbon…
  88. NOVEMBER 2013 CORPORATE PRESENTATION – Spectra Energy Corp. – slide 88
    Recognized by:

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