QUESTION: Tom, As I stated earlier, we have not given much thought to an LNG terminal in the Freeport area as we anticipated that the basis market would be in the minus $.20 range. If you add the $.05 to $.10 to build a pipeline from the terminal to an interconnect, such a project has trouble competing with others on the table. After talking with Daren and yourself, it may well be worth doing some more research to get better projections of what those numbers might be. I would like to take this further and stack such a project up to others we are evaluating. As you stated, we need to do a better analysis of the pipeline situation in the Freeport area to evaluate the economics of the project. Please inform me as to if and how we should proceed with this matter. Thank You,
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ANS: LNG Terminal in Freeport

QUESTION: Eric, As we discussed, we need to take the most recent invoice from PB-KBB (the contractor that is responsible for injection of gas into Napoleonville) and have them bifurcate the bill into pre-bankruptcy and post-bankruptcy amounts (using 12/2 as the date of bankruptcy). In the meantime, please prepare a Cash Use Request Form for the post-bankruptcy amount (Doug Sewell can assist you on this) for consideration by the Cash Committee. [CHIP PLEASE CONFIRM THAT THIS IS THE APPROPRIATE COURSE OF ACTION] Also, please forward Gerald's draft of new agreement to PB-KBB for their consideration along with any proposed changes to the scope of work description.
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ANS: PB-KBB - Construction of Cavern #1 (Napoleonville)

QUESTION: Libby: I finally had a chance to talk to ENA's General Counsel about the arbitration/courts issue. We would prefer arbitration and ask that you consider whether this is acceptable to P&G. Thanks.
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ANS:
ISDA