|Exchange:||New York Stock Exchange|
|Stock:||Spectra Energy Corp|
|Industry:||Oil & Gas Midstream|
|Spectra Energy Corp. was incorporated on July 28, 2006 as a Delaware corporation. It through its subsidiaries and equity affiliates owns and operates a portfolio of complementary natural gas-related energy assets and is one of North America's natural gas infrastructure companies. For close to a century, Spectra Energy and its predecessor companies have developed critically pipelines and related energy infrastructure connecting natural gas supply sources to premium markets. Spectra Energy operates in three key areas of the natural gas industry: transmission and storage, distribution, and gathering and processing. Based in Houston, Texas, it provides transportation and storage of natural gas to customers in regions of the Eastern and Southeastern United States, the Maritime Provinces in Canada and the Pacific Northwest in the United States and Canada, and in the province of Ontario in Canada. Spectra Energy also provides natural gas sales and distribution service to retail customers in Ontario, and natural gas gathering and processing services to customers in Western Canada. Duke Energy contributed the natural gas businesses, comprised of the Natural Gas Transmission and Field Services business segments of Duke Energy that were owned through Duke Energy's then wholly owned subsidiary, Spectra Energy Capital, LLC. Subsequent to the reorganization and spin-off of Spectra Energy from Duke Energy, Spectra Energy manages its business in four reportable segments: U.S. Transmission, Distribution, Western Canada Transmission & Processing, and Field Services. Spectra Energy's U.S. Transmission transportation and storage businesses compete with facilities that serve its supply and market areas in the transportation and storage of natural gas. The elements of competition are rates, terms of service, and flexibility and reliability of service. The natural gas that Spectra Energy transports in its transmission business competes with other forms of energy available to its customers and end-users, including electricity, coal, propane and fuel oils. In general, Spectra Energy's U.S. Transmission pipelines provide transportation and storage services to local distribution companies, electric power generators, exploration and production companies, and industrial and commercial customers, as well as energy marketers. Spectra Energy also provides interruptible transportation and storage services where customers can use capacity if it is available at the time of the request. Spectra Energy provides distribution services in Canada through its subsidiary, Union Gas Limited. Union Gas owns pipeline, storage and compression facilities used in the transportation, storage and distribution of natural gas. Spectra Energy purchases manufactured equipment and materials for use in operations and expansion projects. The main equipment and materials utilized in operations and project execution processes are steel pipe, compression engines, valves, fittings, polyethylene plastic pipe, gas meters and other consumables. Most of Spectra Energy's U.S. gas transmission pipeline and storage operations are regulated by the FERC. In addition, certain operations are subject to oversight by state regulatory commissions.|
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