naphtha hedge 2001 folks forwarding order team focus naphtha issue please note phase ii comes line blocks b c first run naphtha period 3 6 months hit us time 2001 hence urgent issue lng still year away delays commissioning regas terminal period naphtha could prolong naphtha market volatile crude market deep hence need take small positions early test market dpc board already approved risk management policy allows hedging may need look options costless selling put buying call begin test block place close coordination required global markets group propose someone like anshuman actually seconded onto group whole plan tools manage fuel risk need worked close coordination team ground thoughts 50 tariff fuel price dependent area requires close attention regards sandeep forwarded sandeep kohli enron _ development 01 03 2001 10 29 tushar dhruv enron 01 02 2001 09 25 pm neil mcgregor sin ect ect sandeep kohli enron _ development enron _ development mukesh tyagi enron _ development enron _ development pavan dave enron com anshuman cc marc de la roche hou ect ect doug leach hou ect ect subject naphtha hedge 2001 current level naphtha prices crude futures curve backwardated provide opportune time dpc enter hedge portion naphtha requirements year 2001 efi would like explore possibility situation passes please advise best regards tushar