I guess you wouldn't want to use any of the joint venture entities to issue 
the guarantee because of the complexities of their ownership structures.  You 
also wouldn't want to go outside of ETS because of marketing affiliate 
issues.  By process of elimination, I guess I'm OK with NN issuing the 
guarantee.  In my view, if Mavrix' commercial strategies are unsuccessful and 
Northern has to perform on the guarantee, good luck recovering any of those 
dollars in Northern's next rate case.  Thanks.  DF




Susan Scott
01/30/2001 02:27 PM
To: Drew Fossum@ENRON, Mary Kay Miller/ET&S/Enron@ENRON, Steven 
Harris/ET&S/Enron@ENRON, Rod Hayslett/FGT/Enron@ENRON, Tracy 
Geaccone/GPGFIN/Enron@ENRON
cc:  

Subject: Mavrix

Mavrix Transportation Trading Corp., which is a subsidiary of ETS, needs to 
satisfy TW's creditworthiness requirements in order to enter into a 
transportation agreement with TW.  Paul Cherry has suggested that Northern 
Natural Gas issue a guarantee.  Please let me know whether you think this 
would be acceptable.  If Mavrix wanted to hold NNG capacity, TW could issue 
the guarantee.