Kevin Meredith@ENRON
	12/13/2000 02:51 PM
		 
		 To: Mark Taylor/HOU/ECT@ECT
		 cc: 
		 Subject: US Purity Ethane

A US Purity Ethane financial Swap Transaction with Enron North America Corp., 
under which the Seller pays a Floating Price and the Buyer pays the price 
submitted by Counterparty on the website (the Fixed Price) in each case in 
respect of the Notional Quantity per Determination Period.  Each calendar 
month during the term of the Transaction will be a Determination Period. The 
Notional Quantity per Determination Period is the volume submitted by 
Counterparty via EnronOnline.  The Payment Date(s) will be 5 business days 
after the Floating Price is determinable. The Floating Price shall be the 
Index for the relevant Determination Period.
The term of the Transaction shall be from the Effective Date to the 
Termination Date. The Effective Date is 01 Jan 2001. The Termination Date is 
31 Jan 2001.
The Index for a month shall be the difference between 
(i) the arithmetic average of the high and low Cents/Pound prices of Linear 
Low Density Polyethylene - Butene film grade published under the headings 
"North America Product Prices for (DATE): LLDPE Domestic" in the month-end 
issue of Chemical Market Associates, Inc.'s Monomers Market Report effective 
for such month, and 
(ii) the average of the prices for each day in the Determination Period, 
where the price for each day shall be the 'Avg' price for Purity Ethane 
published in the table entitled 'Mont Belvieu Spot Gas Liquids Prices' under 
the heading 'Purity Ethane:  Any Current Month' in the issue of Oil Price 
Information Service ('OPIS') that reports prices effective for such 
Determination Period.
The price is quoted in cents (US) per unit of volume which will be the 
Contractual Currency.
The unit of measure against which the price is quoted shall be pounds.