[Federal Register Volume 61, Number 69 (Tuesday, April 9, 1996)]
[Notices]
[Pages 15790-15791]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-8783]



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DEPARTMENT OF ENERGY

International Energy Agency Meeting

AGENCY: Department of Energy.

ACTION: Notice of meetings.

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SUMMARY: The Industry Advisory Board (IAB) to the International Energy 
Agency (IEA) will meet April 15, 1996, in Paris, France. The IAB will 
also meet April 16 in Paris to permit attendance by representatives of 
U.S. company members of the IAB at a joint meeting of the IEA's 
Standing Group on Emergency Questions and Standing Group on the Oil 
Market to be held on the same date.

FOR FURTHER INFORMATION CONTACT: Samuel M. Bradley, Acting Assistant 
General Counsel for International and Legal Policy, Department of 
Energy, 1000 Independence Avenue, S.W., Washington, D.C. 20585, 202-
586-6738.

SUPPLEMENTARY INFORMATION: In accordance with section 252(c)(1)(A)(i) 
of the Energy Policy and Conservation Act (42 U.S.C. 6272(c)(1)(A)(i)), 
the following meeting notices are provided:
    I. A meeting of the Industry Advisory Board (IAB) to the 
International Energy Agency (IEA) will be held on April 15, 1995, at 
the headquarters of the OECD, 2, rue Andre-Pascal, Paris, France, 
beginning at 9:30 a.m. The agenda for the meeting is as follows:
1. Introductory Remarks
2. Adoption of the Agenda
3. Approval of the IAB Record Notes
4. Long Term Security Issues Conference
    (a) Short Term Issues
    (i) ISAG Perspective on the Scenarios
    (ii) Policy Actions that Could Improve the Effectiveness of the IEA 
Response
    (b) Long Term Issues
    (i) ISAG Perspective on the Scenarios
    (ii) Policy Actions that Could Improve the Effectiveness of the IEA 
Response
    (c) Possible Improvements to IEP Response Mechanisms
5. Discussion of Past IEA Activities
    (a) Report of ISAG Training Program
    (b) Emergency Data Test
6. Discussion of Future IEA Activities
    (a) SEQ Work Program 1996
    (b) SEQ Work Program 1997 Preliminary Plans
    (c) Maintenance of IEA Emergency Preparedness
7. Future Work

    II. A meeting of the IAB will be held on April 15, 1996, at the 
OECD offices at the address identified above, beginning at 2:30 p.m. 
The purpose of this meeting is to permit attendance by representatives 
of U.S. company members of the IAB at a meeting of the IEA's Standing 
Group on Emergency Questions (SEQ) which is scheduled to be held at the 
OECD on the same date. The agenda for the meeting of the SEQ is under 
the control of the SEQ. It is expected that the agenda will be as 
follows:

1. Adoption of the Agenda
2. Approval of Summary of the 86th Meeting
3. Policy and Legislative Developments in Member Countries
    --Energy Policy and Conservation Act (EPCA)
    --Other Country Developments
4. SEQ Work Programme
    --Adjustments to SEQ 1996 Work Programme
    --Preparations for Work Programme of 1997
    --IEA Medium Term Strategy
5. Emergency Response Reviews
    --Updated Schedule of Reviews
6. Industry Advisory Boards
    --Current and Planned IAB Activities
7. Joint SEQ/SOM Meeting of 16th April
    --Preliminary Discussion of SEQ Aspects of the Disruption Scenarios
8. Emergency Reserve Situation of IEA Countries
    --Emergency Reserve and Net Import Situation of IEA Countries on 
1st January 1996
    --Historical Trends and Future Prospects for IEA Emergency Reserves
9. Proposals on IEA Emergency Response
    --Follow-up by the SEQ to Governing Board Discussions of 29th 
February 1996
10. Emergency Response Issues in IEA Candidate Countries
11. Emergency Data System and Related Questions
    --Comparison of QuB Test Data with MOS
    --MOS for December 1995
    --MOS for January 1996
    --BPFC-Q195-Q495
12. Emergency Reference Guide
    --Update of Emergency Contact Points List
13. Reduction of Document Volume
14. Review of SEQ Work Procedures
15. Any Other Business
    --Participation in SEQ Activities by Candidate Countries

    III. A meeting of the IAB will be held on April 16, 1996, at the 
Australian Embassy, 4, rue Jean Ray, Paris, France, beginning at 9:30 
a.m. The purpose of this meeting is to permit attendance by 
representatives of U.S. company members of the IAB at a joint meeting 
of the IEA's Standing Group on Emergency Questions (SEQ) and Standing 
Group on the Oil Market (SOM) which is scheduled to be held at the same 
location on the same date. The agenda for the meeting is under the 
control of the SEQ and the SOM. It is expected that the agenda will be 
as follows:

1. Objectives of the Meeting
2. Oil Disruption in the mid-1990s
    (a) How the market might respond
    --The first days
    --Qualitative comments on overall price rise
    --Contango or backwardation
    --Regional and product price differentials (e.g. Gulf Crisis)
    --Role of the futures markets
    (b) Industry Response to Market Changes
    --Strategy on oil purchases and inventories in 4Q95/1Q96
    --Changes in crude oil/product distribution; implications of 
destination restrictions
    --Changes in refinery operations
    (c) Comments by IAB Supply Experts
    (d) IEA Actions and Response and Member Country Contributions to 
Joint Response
    (e) Response strategy of US, France Japan and Germany
    (f) Comments by other country experts
    (g) Industry Experts Discuss the Effect of IEA Actions on the 
Market including
    --Stockdraw
    --Demand Restraint
    --Changes or Improvements to the Emergency Sharing System
    --Activation and implementation issues raised by the scenarios
    (h) General Discussion
    --Other IEA countries comment on IEA action
    --Effect of significant volumetric disruption elsewhere (e.g. 
light, sweet crude from Libya)
3. Oil Disruptions Longer Term
    (a) Outlook for 2010
    --Global and regional changes in demand and supply (2010 versus 
1995)
    --Projected export levels from the Middle East/Saudia Arabia
    (b) Changes in Global Oil Supply/Demand Environment
    --Factors increasing/decreasing security of supply
    --Industry response to growing demand
    --Importance of spare capacity
    (c) The four speakers in 2a) and b)

[[Page 15791]]
discuss the impact of the disruption concentrating on changes from the 
disruption discussed in 2
    (d) Open discussion on what the IEA should do
    --Under what circumstances would the various available measures be 
most effective?
4. IEA Long-Term Oil Security Strategy
    (a) Outlook for IEA Country Response
    --Stockdraw, demand restraint and other measures
    (b) Summary list of steps that could improve security of supply in 
the medium/long term
    --General discussion, suggested additions to the list and possible 
follow up
5. Summing Up

    As permitted by 10 C.F.R. Section 209.32, the usual 7-day period 
for publication of the notice of these meetings in the Federal Register 
has been shortened because unanticipated circumstances pertaining to 
the IEA's scheduling of these meetings delayed the issuance of this 
notice.
    As provided in section 252(c)(1)(A)(ii) of the Energy Policy and 
Conservation Act (42 U.S.C. 6272(c)(1)(A)(ii)), these meetings are open 
only to representatives of members of the IAB and their counsel, 
representatives of members of the SEQ, the SOM representatives of the 
Departments of Energy, Justice, and State, the Federal Trade 
Commission, the General Accounting Office, Committees of the Congress, 
the IEA, and the European Commission, and invitees of the IAB, the SEQ, 
SOM or the IEA.

    Issued in Washington, D.C., April 4, 1996.
Douglas W. Smith,
Deputy General Counsel for Energy Policy.
[FR Doc. 96-8783 Filed 4-8-96; 8:45 am]
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