Barclays Investment Grade & Energy Pipeline Conference Spectra Energy March 5, 2014 Laura Sayavedra Vice President & Treasurer Spectra Energy
Safe Harbor Statement Some of what well discuss today concerning future company performance will be forward-looking information within the meanings of the securities laws. Actual results may materially differ from those discussed in…
Our Strong Portfolio of Assets 2014e EBITDA* = 3,035 Gas storage facility Gas processing plant (US MM) Propane terminal 555 NGL storage Distribution Shale gas formations Union Crude storage Gas 690 Major oil pipeline terminal…
Business Segment Overview NYSE: SE Spectra Energy Distribution Western Canada Field Services Transmission & Partners SEP Union Gas Processing DCP Diversified portfolio of natural gas, Union Gas 2nd largest natural 17 gas…
Disciplined Growth Continued investment in midstream fee-based business 6B of assets acquired or placed into Acquired or in-service in 2013 service in 2013; including Currently in execution 1.5B acquisition of Express-Platte crude…
Key Value Considerations Consistent strategy and balance sheet strength Diverse Portfolio Fee-Based Strong Financial Strong Balance of Assets Revenues Results Sheet Leading natural gas 90% of 2013 revenues Cash flows supported by…
Current Asset Structure Reporting Segment Assets in Segment U.S. Transmission Algonquin Gas Transmission Saltville Gas Storage Big Sandy Pipeline Texas Eastern Transmission Bobcat Gas Storage Maritimes & Northeast, US (78%)…
BARCLAYS INVESTMENT GRADE & ENERGY PIPELINE CONFERENCE Spectra Energy Partners, LP
Spectra Energy Partners: Overview Current Asset Profile Ongoing EBITDA by Segment* (MM) U.S. Transmission Liquids Other 1,840 1,665 1,485 1,391 2013 2014e 2015e 2016e * Spectra Energy Partners, LP stand-alone EBITDA…
U.S. Transmission: Asset Strength & Flexibility Value of capacity increases with changing supply and demand dynamics Growing supply along the system Increasing demand in all areas Future where our pipelines reach Flows…
U.S. Transmission: Solid Fee-Based Business Core fee-based businesses provide steady cash flows 98% 2013 Texas Eastern & Algonquin contract renewal rate U.S. Transmission Revenue Stability 2013 Usage and Other Revenue Percentage…
Liquids: Overview Hardisty An Exceptional Launch of Our Liquids Business Express-Platte acquired and integrated into Express Pipeline Spectra Energy operations Express-Platte Successful open season for Express Pipeline Pipeline…
Liquids: Maximizing Revenue from Existing Assets Express Pipeline (Bbl/d) Optimization Strategy: 300,000 250,000 Capacity Express Receipts Maximize capacity utilization 200,000 Connect to rail and barge to expand New Committed market…
BARCLAYS INVESTMENT GRADE & ENERGY PIPELINE CONFERENCE Financial Overview
Prudent Financial Management Committed to maintaining strong balance sheet with investment grade credit metrics and ample liquidity Maintain low-risk business profile Sustain high quality credit standards for customers Utilize…
Customer Credit Exposure as of 12/31/13 Spectra Energys customer mix is made up of primarily high quality credits 35% 31% A or Higher BBB 8% 14% Non-Investment Investment Grade- Equivalent Grade - Unsecured 12%…
What our investors can expect from Spectra Energy going forward Operate & Maximize Strong & Stable Build & Buy Expansive and diversified Fee-based model provides Expansive footprint & asset base low risk and steady growth…
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