Problem: BODY: As you are aware, NNG has reached a settlement with the shippers in the SLA proceeding. Part of the settlement provides that NNG and its shippers will work together in good faith to develop an imbalance resolution which includes a shipper option of in-kind balancing or cash out. Also, the working group would define the parameters around which NNG could buy or sell gas into or out of the operational storage account. Mary Kay has asked that Steve Kirk & myself co-chair this committee for NNG and that the two of you also be members of the committee on behalf of NNG. I assume you are OK with this assignment. We would like to get together and discuss our general approach to this effort. Steve and I think our initial meeting could be held in the Video Conference room. Could you let me know your availability to get together sometime next week for appr 1 -1/12 hours?
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A: SUBJECT: SLA Settlement

Problem: BODY: We should change all settlements at Socal to NGI Southern Border, Socal from Southern California Border average. This new index excludes KRS fixed priced trades. Please let the brokers know about the changes to Socal basis going forward. Please change basis and gd swing swaps (fp and index) in EOL. Also, Frank and Matt should set up basis and a gd swap (fp and index) for southern border, PG&E. This will be the index for PG&E Topock. This index will be effective for April 2001. I will have the physical product out there as soon as possible. Let me know when they have been changed. Mike
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A: SUBJECT: Changes to Financial settlements for CA

Problem: BODY: Tina, Attached is the Global Risk Management Operations Update for the Philippe and Greg Weekly Report, for the week ending June 6. If you have any questions, please let me know. Thank you,
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A:
SUBJECT: Global Risk Management Operations Weekly Operating Report