Spectra Energy Corp is a S&P 500 company headquartered in Houston, Texas, that operates in three key areas of the natural gas industry: transmission and storage, distribution, and gathering and processing. Spectra was formed in late 2006 from the spin-off from Duke Energy. Spectra owns the Texas Eastern Pipeline, a major natural gas pipeline which brings gas from the Gulf of Mexico coast in Texas to the New York City area. It is one of the largest pipeline systems in the United States. Spectra also operates three oil pipelines.