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Enron Mail |
BUSINESS HIGHLIGHTS
Enron Industrial Markets=20 The Transaction Development group (TD) is responsible for corporate=20 development, transaction execution and portfolio management activities with= in=20 EIM. TD is responsible for asset and corporate acquisitions to support EIM= =01,s=20 efforts in the Forest Products and Steel industries. TD works with EIM=01,= s=20 Forest Products and Steel Origination groups to structure and execute compl= ex=20 transactions for EIM=01,s customers. TD also manages EIM=01,s equity inves= tments,=20 such as EIM=01,s ownership position in Papier Masson, Ltee, a paper mill in= =20 Quebec, Canada. TD is comprised of approximately 20 professionals with a wide range of=20 backgrounds including investment banking, commercial banking, management=20 consulting, law, project development, accounting and engineering. In=20 addition, the majority of the analysts and associates within EIM work in TD= =20 since it provides a strong base of deal experience for junior members of ou= r=20 organization. =20 Enron Freight Markets Enron Freight Markets has continued to expand the transportation services= =20 offered to its customers and completed several flatbed truck moves outbound= =20 from Georgia this week. There was a shortage of flatbed equipment supply i= n=20 this market and EFM was able to obtain more than three times the normal=20 margin on each move. =20 IN THE NEWS "Enron's bilateral internet trading platform, EnronOnline, was launched in= =20 November 1999 and is the largest e-commerce site on the planet based on the= =20 value of its transactions. As EPRM went to press, it had average daily=20 trading volume of $3.5 billion, accounting for nearly 50% of the company's= =20 revenues from wholesale marketing activities." -- Energy Power Risk=20 Management, May 2001 WELCOME New Hires EIM - Cheryl Lindeman ENA - Chris Bystriansky, Paula Craft, Eugene Lee, Bhalachandra Mehendale,= =20 Sarah Wooddy Transfers (to or within) ENA - Grace Taylor, Steven Irvin, Dina Snow NUGGETS & NOTES Enron is hosting the Chicago Energy Risk Management Seminar at The Drake=20 Hotel in Chicago on June 14, 2001. Topics include: Power Outlook, Natural= =20 Gas Outlook, Hedging Strategies, Weather Risk Management and Pulp and Paper= =20 Risk Management. The RSVP deadline is June 8th so please contact Laura Pena= =20 as soon as possible at x 3-5376. This is a great event for "new" as well a= s=20 established customers. There will be a cocktail reception immediately afte= r=20 the presentations. Enron will also be hosting seminars in Atlanta, Houston= ,=20 Denver and San Francisco. Dates to be announced soon. Travel tip of the week: Flights reserved through Travel Agency in the Park provide you with $150,00= 0=20 of flight insurance at no additional charge. EnronOnline Statistics Below are the latest figures for EnronOnline as of May 29, 2001. * Total Life to Date Transactions < 1,015,000 * Life to Date Notional Value of Transactions < $610 billion NEWS FROM THE GLOBAL FLASH Enron arranges first gas pipeline import into Italy Enron has continued its pioneering activities in the Continental gas market= =20 by arranging the first gas import into Italy. The Italian team worked with= =20 the Continental Gas desk to arrange this strategically important agreement= =20 with Blugas SpA., the wholesale gas company formed by the municipalities of= =20 Cremona, Lodi, Mantova and Pavia in north-eastern Italy. Enron has sourced= =20 100,000 cubic metres per day of natural gas from northern Europe to transpo= rt=20 to Italy, transiting it through Germany and Switzerland, despite fierce=20 resistance from Ruhrgas and TransitGas respectively. =20 Aside from isolated LNG imports by incumbent monopolies this is the first= =20 time that any company has managed to import natural gas by pipeline into=20 Italy since the Italian gas sector was officially liberalised in August 200= 0.=20 The gas, which started flowing at 06.00 on Thursday 17th May 2001, will be= =20 used to meet the needs of two thirds of Blugas' residential customers withi= n=20 the four municipalities. The current contract lasts for five months. Congratulations to Fabio Greco, Carsten Haack, Didier Magne, Michael Schuh,= =20 Marco Lantieri and Daniela Uguccioni. Enron in the Middle East=20 Enron has relinquished its stake in Dolphin Energy, the joint venture compa= ny=20 formed to develop gas reserves in Qatar. Enron has agreed to transfer its 24.5 per cent stake in the project to the= =20 United Arab Emirates Offset Group (UOG), the majority shareholder. The=20 agreement allows Enron to deploy capital elsewhere and gives UOG the=20 opportunity to seek new partners before the project moves into its next pha= se. Development of the Emden/Oude gas hub moves ahead fast An important milestone in the evolution of the new gas trading hub on the= =20 Dutch-German border was reached last week. Last Friday some of the major European gas=20 players held a meeting to officially establish the Emden/Oude gas hub.=20 Although Enron had already initiated the development of the Emden/Oude hub = by=20 making a market through EnronOnline as early as December 2000, the goal of= =20 this meeting was to set up a working group similar to the Zeebrugge focus= =20 group who can work on setting a legal framework for the Emden/Oude hub.=20 Enron was elected as the only new market entrant in this group, reflecting= =20 the high level of respect industry peers have for Enron as a major player i= n=20 the Continental gas market -- even from incumbents! LEGAL STUFF The information contained in this newsletter is confidential and proprietar= y=20 to Enron Corp. and its subsidiaries. It is intended for internal use only= =20 and should not be disclosed.
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