Spectra Energy Partners Balanced Growth Story NAPTP MLP Investor Conference 2010 May 12-13, 2010 Greenwich, Connecticut Natural Gas. Right Here, Right Now.
Safe Harbor Statement Some of the statements in this document concerning future company performance will be forward-looking within the meanings of the securities laws. Actual results may materially differ from those discussed in these…
Our Key Attributes Natural Gas Infrastructure Company Interstate gas pipelines & storage Fee-based, stable cash flow business Long-term contracts No direct commodity exposure Strong Sponsorship Our Strategy Optimize our…
Strategy = Balanced Growth 40 Annual distribution equivalent of 1.68 per Distribution per LP Unit (in cents) 35 LP Unit Recently raised quarterly distribution by 30 0.01 per LP unit to 0.42 per LP unit Distribution growth…
Our Asset Portfolio Assets & Revenue Composition: East Tennessee Saltville Gas Ozark Gas Market Hub Gulfstream Natural Gas Storage Transmission Partners Natural Gas (100%) (100%) (100%) (50%) (24.5%) Note: data as of 12/31/2009…
Projects in Execution Northeastern Tennessee (NET) Agreement Signed with TVA & Filed with FERC in 1Q10 Completed by 2H11 Moss Bluff Storage 4 Completed by 2H11 Gulfstream Phase V Filed with FERC 4Q09 Completed by…
East Tennessee Natural Gas Pipeline ETNG Operating Totals: 1,510 mile interstate pipeline 1.5 Bcf/d of capacity 31 receipt - 179 delivery points 1 Bcf LNG storage facility Avg contract life: 9 yrs ETNG is well positioned to…
East Tennessee Natural Gas, LLC Northeastern Tennessee (NET) Project Filed project with FERC March 2010 East Tennessee signed precedent agreement with TVA Gas service to the TVAs John Sevier generation plant in Hawkins County,…
Ozark Gas Transmission Well-positioned assets with a good mix of customers Access to Fayetteville Shale & Arkoma Basin Interconnects with Spectra Energys Texas Eastern Transmission Serves Mid-continent, Southeast & Northeast…
Market Hub Partners (MHP) Natural Gas Storage High deliverability storage Significant interconnectivity Access to markets in Northeast, Southeast, Midwest, and Gulf Coast Continued growth opportunities Egan Cavern 3…
Gulfstream Natural Gas Pipeline Gulfstream Operating Totals: One of Two Pipelines serving 745 mile interstate natural Florida Peninsula gas pipeline 1.26 Bcf/d of capacity 8 receipt - 23 delivery points Fully subscribed with…
Balanced Growth Story Organic Growth 230 million in organic growth Track record of growing our business Growth projects In-Service 2007-2009: investments 2007-2009 Glade Springs CNX Expansion Greenway Nora 400 million in…
An Attractive Investment Opportunity Well-positioned assets 40 Strong financial position Distribution per LP Unit (in cents) Strong sponsor 35 Track record of distribution increases 30 Ten consecutive quarterly distribution…
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Appendix A Other Financial Information Natural Gas. Right Here, Right Now.
1st Quarter Financial Highlights Strong first quarter results Growth from our completed projects Contribution from Ozark Net income of 39.1 million 37% increase over 1st Qtr 2009 Earnings per limited partner unit 0.46 Cash…
Cash Available for Distribution (CAD) ( millions) Three Months Ended March 31, 2010 2009 Adjusted EBITDA 32.4 22.7 Add: Cash available from equity investments Gulfstream 14.4 11.9 Market Hub Partners 11.6 10.9 Preliminary…
Debt and Available Liquidity SEP maintains a strong financial position ( millions) March 31, 2010 December 31, 2009 Debt East Tennessee Natural Gas (5.71%; Due 2012) 150 150 Other Floating Rate Debt 268 268 Total Debt 418 418…
Debt Schedule ( millions) March 31, 2010 SEP Debt East Tennessee Natural Gas (5.71%; Due 2012) 150 500 million Credit Facility (current rate: Libor +35bps; Expires 2012) 240 MHP Demand Note (Libor; Due 2012) 28 Total Debt 418…
Appendix B Project & Other Information Natural Gas. Right Here, Right Now.
East Tennessee Natural Gas, LLC Northeastern Tennessee Project East Tennessee NET Project Total project Capex: 135 million Primary spend in 2011 Filed project with FERC March 2010 Precedent agreement with TVA signed Gas service to…
Market Hub Partners Moss Bluff Cavern 4 Moss Bluff is a key player in the Texas intrastate and interstate markets Moss Bluff Cavern 4 SEPs share of total project Capex: 60 million Permitted by Texas Railroad Commission Cavern…
Market Hub Partners Egan Cavern 3 Egan is the premier salt cavern asset in North America Egan Cavern 3 SEPs share of total project Capex: 80 million Cavern development process continuing Initial 6 Bcf of working capacity…
Gulfstream Natural Gas Phase V Expansion Gulfstream provides solid revenue base from long-term contracts Gulfstream Phase V SEP Share of total project Capex: 12 million 35,000 Dth/d of new firm service Initial in-service…
Our Sponsor Spectra Energy Corp 2009 Natural Gas Pipeline Throughput 3.9 Tcf Miles of Transmission Pipe 19,100 Miles of Gathering Pipe 62,800 Miles of Distribution Pipe 37,000 Storage Capacity 285 Bcf Retail Customers 1.3 million…
Spectra Energy Partners Eligible Holders As a result of certain FERC rate-making policies, we require an owner of our common units to be an Eligible Holder. Eligible Holders are individuals or entities subject to United States federal…
Regulation G Schedules Natural Gas. Right Here, Right Now.
SEC Regulation G Non-GAAP Reconciliation for SEC Regulation G NAPTP MLP Investor Conference 2010 May 12-13, 2010 Adjusted Earnings Before Interest, Taxes and Depreciation and Amortization (EBITDA) The materials and presentation for…
Reconciliation of Net Income to Cash Available for Distribution Spectra Energy Partners Reconciliation of Non-GAAP Adjusted EBITDA and Cash Available for Distribution (Unaudited) (In millions) Three Months Ended March 31, 2010…
Reconciliation of Net Income to Cash Available for Distribution (Gulfstream) Gulfstream Reconciliation of Non-GAAP Adjusted EBITDA and Cash Available for Distribution (Unaudited) (In millions) Three Months Ended March 31, 2010…
Reconciliation of Net Income to Cash Available for Distribution (Market Hub) Market Hub Reconciliation of Non-GAAP Adjusted EBITDA and Cash Available for Distribution (Unaudited) (In millions) Three Months Ended March 31, 2010…
www.spectraenergypartners.com Natural Gas. Right Here, Right Now.
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