Jay,

Louis Dreyfus Energy Services LP wants to get in place a physical master netting agmt. for NGLs, currently Global Liquids doesn't have such type of document; maybe a master netting agreement will be sufficient for them.

FYI,
This customer also trades with us natural gas, NGLs, refined products, and crude oil through an ISDA with ENA.

Thanks,

Nidia
x3-4868
 -----Original Message-----
From: 	BellM@louisdreyfus.com@ENRON  
Sent:	Wednesday, November 14, 2001 10:53 AM
To:	Mendoza, Nidia
Cc:	Moran, Tom
Subject:	Master P/S Netting Agreement for NGL's

Nidia,

Thanks for speaking with me today about the possibilty of entering into a
master purchase and sale agreement for the ongoing NGL physical business
between our companies.

As we discussed, we would like to develop one set of terms to govern all
transactions that include a formal netting/ margining agreement.  As agreed
we will markup Enron's standard sale agreement to make it bilateral.  You
will let me know if Enron already has standard netting/margining language
that we can review.

Thanks Nidia, you've been really great these past few days.

MEB

Regards
Mary Ellen Bell
Louis Dreyfus Contract Administration
tel: (203) 761-8108
fax: (203) 761-8069
e-mail: bellme@louisdreyfus.com