As we move forward with our global LNG strategy, it is obvious that the best
way to capture value for Enron is to bring the same merchant activity to this
business unit. This merchant philosophy allows aggressive book and position
management from a worldwide perspective. Our ability to gather data and to
show only one Enron face in the market is crucial to our success. As
important is one pricing desk. Many of you know, Eric Groves in Houston is
running our pricing desk, Larry Lawyer is working on all finance type
business for us, and Jen Fraser is running our fundamentals group.

To bring full merchant capabilities to our worldwide LNG business, Mike and I
wanted to clearly outline a point that seems to need attention. ALL LNG
contacts, negotiations, and contracts, (physical, financial, buys, sales,
etc.), with external counterparties must and will be managed through our
commercial LNG group headed by Eric Gonzales, and Rick Bergsieker.

It is crucial to manage market perspective, appearance, and informantion. We
all know how important each project (Metgas, and other initiatives in India)
could be, but a coordinated front will help us better grow all of our
businesses.

Regards

Jeff