Geoff Storey

Geoffrey “Geoff” Storey was a Director of Trading at Enron Capital & Trade Resources (ECT), specializing in Eastern Canadian gas markets and middle market trading. Based in Houston, he managed trading operations for Eastern Canada gas markets, particularly Ontario hubs including Dawn and Parkway, while simultaneously serving as the primary business lead for the Gas Trading Vision (GTV) system development. He combined active trading responsibilities with technology project leadership.

Storey’s email archive in the Enron corpus contains 1,368 messages from 288 unique correspondents, spanning 2000 to 2002. The archive documents his dual responsibilities in market-making for Canadian gas and his advocacy for trader-focused system improvements through the GTV project.

Career at Enron

Director of Trading

Storey held the title of Director Trading within Enron’s North America Gas Trading operation, as confirmed by his November 2001 email signature. He reported to Louise Kitchen, who oversaw the gas trading operation. His position placed him at the intersection of trading operations, technology development, origination coordination, and regulatory engagement.

His team of “middle marketers” covered Eastern Canadian markets from the Houston office, requiring close coordination with Enron’s Calgary origination team including Eric LeDain, Rob Milnthorp, and Jonathan McKay. This cross-border arrangement was documented in January 2001 when Eric LeDain clarified the coverage model in internal communications: “Geoff and his middle marketers cover Union and Consumers for mid market storage or transport plays in Ontario (or the US for Union and Consumers assets in the US), plus US gas supply into Panhandle or ANR transport held by the LDC’s. Geoff of course also does the Dawn, Parkway etc. trades.”

Trading Coverage and Markets

Storey’s primary market focus was Eastern Canada natural gas, with particular emphasis on Ontario trading points. His coverage included Union Gas and Consumers Gas relationships with Local Distribution Companies (LDCs), mid-market storage and transport opportunities in Ontario, U.S. gas supply into Panhandle and ANR transport, Dawn and Parkway trading points as Eastern Canada hubs, Canadian physical basis spreads including Niagara Dawn spread products, and TransCanada PipeLines (TCPL) regulatory and operational matters.

His secondary coverage extended to U.S. Midwest interconnects, where North American gas markets connected Canadian and American trading points through pipeline infrastructure.

Gas Trading Vision (GTV) System Development

Project Leadership

Storey served as the primary business lead for the Gas Trading Vision II (GTV II) project, a major trading system enhancement initiative in 2001. He represented trader needs in system development, bridging the gap between business requirements and technical implementation. He owned business requirements, ran weekly status meetings with the IT development team, and coordinated a cross-functional project team.

The GTV development team included Zhiyong Wei as primary developer, along with Dave Nommensen, Russ Severson, Chuck Ames, Bill Fortney, Nayan Dattani, Mike Swaim, George Grant, and Jeff Gossett. Weekly status updates from March through May 2001 document the regular cadence of project coordination.

Project Scope and Deliverables

The GTV II project aimed to enhance trading capabilities through several major deliverables: incorporating physical deal positions into TDS (Trading and Deal Surveillance), position manager enhancements for gas trading, deal entry and risk reporting capabilities, Gas Daily Options and Pipe Options reporting, and flexible position manager development. Storey authored the inception document for the flexible position manager component in July 2001.

The project progressed through Phase I and Phase II during 2001, with Storey coordinating between traders who needed improved tools and developers who built the functionality. His most distinctive term was “phase” with an ownership score of 2.8.

TransCanada PipeLines Regulatory Engagement

Storey actively monitored and engaged with TransCanada PipeLines (TCPL) regulatory proceedings that affected Eastern Canada markets. In November 2000, TCPL announced a 13.6% increase in Eastern Zone tolls for 2001, which raised costs for traders operating in Ontario markets. Storey tracked the implementation of new TCPL services including AOS, IT Floor, and FT Makeup, as well as settlement agreements requiring shipper voting in February 2001 and the July 2001 implementation timeline for new service offerings.

His most distinctive term was “toll” with an ownership score of 10.46, ranking among his highest compared to other Enron employees.

Risk Management and Triangle Trades

In the final months before Enron’s collapse, Storey was actively involved in reducing counterparty credit risk through ring trades (also called triangle trades) that offset positions between multiple counterparties. Credit management became increasingly important as concerns about Enron’s own counterparty risk intensified.

In November 2001, Storey coordinated triangle trades involving Bank of Montreal (BMO), BP North America, Coral Energy, Morgan Stanley, and Sempra. A typical structure involved Houston Ship Channel basis trades where, as Storey documented: “MS buys from Enron, Enron buys from Sempra, Sempra buys from MS.” These credit-neutral trades allowed all parties to maintain market positions while reducing bilateral exposure to Enron during the crisis period.

Key Correspondents

Storey’s correspondence patterns reveal a network centered on GTV project coordination, Calgary origination support, and trading operations.

The high volume of correspondence with Zhiyong Wei (54 messages) shows Storey served as the primary business interface with the development team. His communications with Louise Kitchen document both project status updates and trading operations matters.

EnronOnline Integration

In June 2001, Reuters announced a partnership to provide real-time quotes from EnronOnline. The service launched on June 4, 2001, providing transparent pricing information to commodity traders and industry participants. While not directly responsible for EnronOnline, Storey’s Eastern Canada trading operations were integrated into the broader platform ecosystem that Louise Kitchen had built.

Timeline

Personal Life

Storey maintained a Houston base while managing cross-border trading relationships. His email archive contains references to his wife Vicki and son Cameron, who was born approximately in March-April 2001. Personal emails document family communications during Vicki’s pregnancy and bed rest period. Storey enrolled his child in the Enron Kid’s Center in April 2001.

Evidence suggests Storey may have taken the GMAT exam prior to his Enron career. IU News subscriptions found in his inbox indicate possible connections to Indiana University.

Legal Status

Geoff Storey does not appear in Department of Justice or Securities and Exchange Commission proceedings related to the Enron collapse. He was not charged with any crimes in connection with the company’s bankruptcy or the fraud prosecutions that followed. His work in middle market trading and systems development does not appear in the evidentiary record of the major Enron criminal cases.

See Also

• Louise Kitchen — Direct manager, President of Enron Net Works
• EnronOnline — Trading platform integrated with gas operations
• Enron Americas — Parent organization for North America trading

References

This article is based on Geoff Storey’s email archive containing 1,368 messages from 288 unique correspondents, primarily spanning 2000 to 2002. The archive documents his trading activities in Eastern Canadian gas markets, GTV system development leadership, and cross-border coordination with Calgary origination teams.