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ENRON OPENS NEW OFFICE IN NORWAY
FOR IMMEDIATE RELEASE: Monday, June 3, 1996
Oslo, Norway -- Enron Europe has opened a new office in
Oslo, Norway as a
base to market physical and financial electricity products and
risk management
services. The company will operate as Enron Nordic Energy from
its premises at Nedre
Vollgate 3.
The Oslo-based team of seven will be supported by staff
and facilities from
Enron's offices in London and Houston, and further local recruitment is underway.
"The establishment of this office represents an important
investment for
Enron
and is a significant step toward achieving our long-term goal
of providing
energy
solutions in the European marketplace," said Geoffrey Roberts,
President of
Enron
Europe.
"Our team in Oslo will promote the use of risk management
electricity
products to
provide revenue and cost stability for utilities, generators and
industries
exposed to
electricity price volatility," Roberts added.
"We have been very impressed by the Norwegian approach
to liberalization in
the power industry and we are looking forward to doing business
here."
Enron Nordic Energy is a member of Nord Pool ASA which
facilitates
participation in the electricity futures exchange.
Enron Corp., one of the world's largest integrated natural gas
companies with
approximately $13 billion in assets, operates the largest transmission
system in
the
Western Hemisphere and the second largest system in the world;
is the largest
purchaser and marketer of natural gas and the largest non-regulated
marketer of
electricity in North America; produces and markets natural gas
liquids
worldwide;
owns 60 percent of Enron Oil & Gas Company, one of the largest
independent (non-
integrated) exploration and production companies in the United
States; owns 55
percent of Enron Global Power & Pipelines L.L.C., which is
owner and manager of
operating power plants and natural gas pipelines in emerging markets; and is one of the largest independent developers and producers of electricity
in the world.
Enron
Corp. is traded under the ticker symbol, "ENE."
For additional information please contact:
Diane Bazelides
(713) 853-6285
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