Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Sayavedra Laura Buss
2. Date of Event Requiring Statement (Month/Day/Year)
01/01/2014
3. Issuer Name and Ticker or Trading Symbol
Spectra Energy Corp. [SE]
(Last)
(First)
(Middle)
5400 WESTHEIMER COURT
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Vice President and Treasurer
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

HOUSTON, TX 77056
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 6,229.049
D
 
Retirement Savings Plan (RSP) 4,526.4857
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to Buy)   (1) 02/27/2017 Common Stock 10,100 $ 25.64 D  
LTIP Phantom Stock Grant Feb 2011 02/22/2014 02/22/2014(2) Common Stock 1,900 $ (3) D  
LTIP Phantom Stock Grant Feb 2012 02/21/2015 02/21/2015(2) Common Stock 1,700 $ (3) D  
LTIP Phantom Stock Grant Feb 2013 02/19/2016 02/19/2016(2) Common Stock 1,900 $ (3) D  
Performance Shares Feb 2011 02/22/2014   (4) Common Stock 1,550 $ (5) D  
Performance Shares Feb 2012 02/21/2015   (4) Common Stock 1,350 $ (5) D  
Performance Shares Feb 2013 02/19/2016   (4) Common Stock 1,450 $ (5) D  
Phantom Shares Esp   (6)   (4) Common Stock 220.7567 $ (3) I By Trustee Executive Savings Plan

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Sayavedra Laura Buss
5400 WESTHEIMER COURT
HOUSTON, TX 77056
      Vice President and Treasurer  

Signatures

/s/ Emily L. Strait, attorney-in-fact for Ms. Sayavedra 01/09/2014
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Vested in three annual installments beginning February 2008.
(2) Grant cliff vests 3 years from date of Grant.
(3) Converts to Common Stock on a 1-for-1 basis.
(4) Expiration date not applicable.
(5) Converts to Common Stock on a 1-for-1 basis. The number of performance shares that vest is based on the achievement of a specified total shareholder return for Spectra Energy Corp Common Stock.
(6) Payable upon termination of employment or occurence of other events as specified in the Spectra Energy Corp Executive Savings Plan, subject to holding periods required by law.

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