text_combined: lng may 19 decision vince thanks update sure decision made may 19 seems mystic lady elba island deals already approved executed quite likely missing detail two john vince j kaminski 15 05 2000 17 14 john sherriff lon ect ect cc vince j kaminski hou ect ect david gorte hou ect ect rick buy hou ect ect ted murphy hou ect ect subject lng may 19 decision john update done lng transactions 1 involved lng ship project shall read dash give comments without looking details think decision charter tanker removes one significant risk elba island project please see point 2 2 elba island working doug rotenberbg brad hitch scott earnest sally beck organization rac set book elba island transaction next step expand book capture enron lng related positions one place look natural risk offsets possible hedges working group meeting close remaining gaps tomorrow tuesday 8 30 comments book design view project current thinking lng sourced elba island facility buying marginal cargos fob basis marginal cargos represent supply excess capacity committed long term contracts became available due short term frictions fob cargos typically selling significant discount long term contract prices economics deal represented book setting reflect assumption locate marginal cargos shall able regular basis arranging shipping coordinating facility schedule natural gas transactions us words significant logistical operational risk transaction b transaction cover period 17 years extension option 5 years even lock lng volumes time period ability lock side spread us gas prices long tenor essentially tolling transaction exposure lng nat gas spread would recommend locking one leg spread one solution would cover let say 50 lng volumes first 5 years lock nat gas side us market side c book setting based many managerial assumptions regarding sources lng shipping rates schedules etc would set big prudence reserve case mark market group work valuation options elba island deal good enron hedging strategy lng positions long term lng contracts typically based japanese crude cocktail correlates well brent vince john sherriff 05 14 2000 01 40 vince j kaminski hou ect ect cc lauren urquhart lon ect ect subject lng may 19 decision vince spoken awhile hope world treating well anyway greg moving new role hope temporarily staff trading oversight eastern hemishere plus lng understand group taking first cut developing curves lng lng ship values also understand another lng ship decision dockets may 19 far away anway understand big decision still gotten little info yet please let know stand ask assistant lauren set time speak next couple days anything review get faxed well look forward connecting vince john