Spectra Energy Partners Announces Management Changes

Feb 28, 2013, 08:00 ET from Spectra Energy Partners, LP

HOUSTON, Feb. 28, 2013 /PRNewswire/ -- Spectra Energy Partners, LP (NYSE: SEP) announced today that Pat Reddy, chief financial officer (CFO) of Spectra Energy, will assume the CFO responsibilities for Spectra Energy Partners as well. Laura Sayavedra, previously CFO of Spectra Energy Partners, has been named vice president of strategy for Spectra Energy. In her new role, Sayavedra will be responsible for providing leadership in setting Spectra Energy's long-term strategy.

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"In 2013 and beyond, Spectra Energy Partners' portfolio is going to grow, in large part from asset drop-downs from our general partner, Spectra Energy," said Julie Dill, president and chief executive officer of Spectra Energy Partners. "With the significant value both companies will achieve from this strategy, it makes sense for Pat to serve as the CFO of both entities. I'd like to thank Laura for her outstanding service to Spectra Energy Partners' investors as CFO. She has been instrumental in building SEP's solid financial foundation. I'm very pleased that she will be leading Spectra Energy's strategy team."

Spectra Energy Partners, LP (NYSE: SEP) is a Houston-based master limited partnership, formed by Spectra Energy Corp (NYSE: SE), that owns interests in natural gas transportation and storage assets in the United States, including more than 3,500 miles of transmission and gathering pipelines and approximately 57 billion cubic feet (Bcf) of natural gas storage. These assets are capable of transporting 4.5 Bcf of natural gas per day from growing supply areas to high-demand markets.

SOURCE Spectra Energy Partners, LP