Sara, RMT/NNG was put on hold per Tony Pryor's request pending restructuring 
of NNG.  This restructuring is finished (it involved NNG going from 100% 
Enron-owned to about 98%).  I talked with Tony yesterday on this and he says 
the ISDA may now proceed. Tax has confirmed this is still an RMT deal.

Re the fx trade you mentioned, the confirm desk has drafted a deemed ISDA for 
this that needs fixing. (not sure what they are doing drafting deemed 
ISDAs).  I am working with Melissa Rodriguez on this.  

I do have a voice mail in to Tanya to ask her if credit wants to re-review in 
light of the new NNG ownership structure.  Even though the ownership change 
seems minor, it seems like the procedurally sound thing to do is to run this 
by credit.  Have not heard back from Tanya and will bring this up at 
legal/credit meeting this afternoon.

I will take this over, including the ISDA master.  Susan, in the meantime, 
could you e-mail me the credit review sheet on this if you have one. -- Bob

Robert E. Bruce
Senior Counsel
Enron North America Corp.
T (713) 345-7780
F (713) 646-3393
robert.bruce@enron.com



	Sara Shackleton@ECT
	11/28/2000 10:16 AM
		 
		 To: Susan Bailey/HOU/ECT@ECT
		 cc: Robert Bruce/NA/Enron@Enron
		 Subject: Northern Natural Gas Company("NNG")

Susan:  Why is the RMT/NNG on hold?  A two-year deal was booked in 
mid-November and we'd like to confirm under a master.  Thanks.  Sara