International Energy Agency Meetings

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 notice of meetings is provided: A meeting of the Industry Advisory Board (IAB) to the International Energy Agency (IEA) will be held at the headquarters of the IEA, 9, rue de la Federation, Paris, France, commencing on September 27, 1999, at approximately 10 a.m.. The purpose of this notice is to permit attendance by representatives of U.S. company members of the IAB at: (1) A Seminar on IEA Oil Stock Strategy (``Stock Seminar'') commencing on September 27 at approximately 10 a.m. and ending on September 28 at approximately 12:45 p.m.; (2) A brief meeting of the IAB, on September 28 from approximately 1:45 p.m. to 2 p.m., in preparation of the Simulation Exercise; (3) A Disruption Simulation Exercise (the ``Simulation Exercise''), commencing on September 28 at approximately 2 p.m. and ending on September 30 at approximately 12:30 p.m.; (4) A meeting of the IEA Standing Group on Emergency Questions (SEQ) on September 30 from approximately 2:30 p.m. to approximately 5 p.m. and on October 1 from approximately 9:30 a.m. to 1 p.m.; and (5) A meeting of the IAB on September 30 from approximately 5 p.m. to 6:30 p.m. The Agendas for the Stock Seminar (item 1 above), the Simulation Exercise (item 3), and the SEQ (item 4) are under the control of the IEA Secretariat and the SEQ. It is expected that the following Agendas will be followed:

I. Seminar on IEA Oil Stock Strategy (September 27 and 28 (a.m.))

• Welcome by SEQ Chairman, and IEA Executive Director • Presentation by Secretariat of Background Note on Global Oil Stock Situation and Synopsis of Replies to SEQ Questionnaire on Stockholding and Stockdraw • Session 1--Stocks as a Means of Rapid Response, and Demand Restraint Operations How the Administrations and the industry would ensure quick and effective response to a major disruption: presentations and discussion

• Session 2--IEA Stock Strategies: Key Issues Trends and Issues in Industry Inventories, Minimum Operating Rates and Usable Stocks: presentations and discussion For What Disruption Should We Prepare?: presentations and discussion Crude Oil v Products; What is the Most Effective Weapon in an Emergency?: presentations and discussion The Governmental Control Issue: Under What Conditions Can Governments Ensure Drawdown? How can adequate legislation be put in place?: presentations and discussion • Session 3--Experience Sharing with Non-Member Countries (NMCs) in Emergency Response How would NMCs react in a disruption? How can stockholding be promoted as an NMC priority?: presentations and discussions • Chairman's Summary

II. Disruption Simulation Exercise Program--September 28 (p.m.)- September 30 (a.m.)

Disruption--Stage 1

Plenary • Introduction by SEQ Chairman and IEA Oil Markets & Emergency Preparedness Director • Introduction of Simulation Facilitator, External Market Group, Internal Market Group and Steering Group • Logistics are described by Head of Emergency Planning and Preparations Department (EPPD) • Rules of the game are defined and simulation initiated • The Stage 1 event is announced • A brief analysis of the market impact by the Internal Market Group

Participants break out into Teams; Teams will:

• Respond to specific questions on market analysis and IEA decision making • Report on what action(s) if any the IEA should take at this point • Submit a report to the Facilitator Plenary • Presentation of four team reports (more if sufficiently diverse) • Reactions from the External Market Group to each team report presentation • Reactions from Internal Market Group on fundamentals following all team reports • Discussions on the recommendations • Review and critique of the first day of the exercise • Chairman's Summary of the Stage 1 Session

Disruption--Stage 2

Plenary • Introduction by SEQ Chairman • Simulation is initiated by Facilitator • The Stage 2 event is announced • A brief analysis of the market impact by the Internal Market Team Participants break out into Teams; Teams will: • Respond to specific questions on market analysis, and IEA policy decisions • Report on what action(s) the IEA should take at this point • Submit a report to the Facilitator Plenary • Presentation of four team reports (more if sufficiently diverse) • Reactions from the External Market Group to each team report presentation • Reactions from Internal Market Group on fundamentals following all team reports • Discussion and conclusions • Chairman's Summary

Cross Sector Y2K Session

Plenary • Background briefings: presentation covering IEA findings on Y2K and results of IEA member country survey • Cross-Sectoral panel, chaired by Deputy Executive Director, IEA, on potential disruptions and cross-sectoral issues. • Introduction to pre-Y2K oil market situation: Internal Market Group • Logistics are described by Head of EPPD

Participants break out into Teams; Teams will: • Respond to specific questions • Make pre-January 1st policy recommendations for the IEA (e.g. an IEA contingency plan) Plenary • Presentation of four team reports (more if sufficiently diverse) • Reaction from the External Market Group to each presentation

Y2K Simulation Session

Plenary • Presentation by Deputy Executive Director of pre-Y2K policy recommendations • Simulation is initiated by the Facilitator • News Flash: Y2K disruption announced • A brief analysis of the market impact by the Internal Market Group Participants Break Out Into Groups Review IEA policy recommendations discussed on September 29 in light of disruption scenario Teams will:

• Develop recommendations on an IEA response(s) to the event • Recommend arrangements to monitor situation after January 1 and follow-up evaluations • Recommend process and timing of IEA decisions (e.g. October 27 Governing Board, November 19 SEQ and December 10 Governing Board and possible SEQ/Governing Board meetings in early January 2000) Plenary • Presentation of team reports • Reactions from the External Market Group to each team report presentation • Reactions from Internal Market Group on fundamentals following all team reports • Discussions and formulation of IEA policy recommendations (content, process and timing) • Recommendations for monitoring situation after January 1 and follow-up arrangements • Chairman's summary

III. The Standing Group On Emergency Questions--September 30 (p.m.)-October 1 (a.m.)

1. Adoption of the Agenda 2. Approval of the Summary Record of the 95th Meeting 3. SEQ Work Program --The Year 2000 Work Program of the SEQ --The Result of the Questionnaire Survey on Program of Work 2000 4. Evaluation of Seminar on IEA Oil Stock Strategy 5. Evaluation of Disruption Simulation Exercise Stages 1 and 2 6. The Year 2000 Problems and IEA Response Plans --Replies to Questionnaires on Y2K Issues --Results of IEA 1999 Regional Seminars --Initial Discussion of Possible IEA Actions 7. Policy and Legislative Developments in Member Countries --Recent Strategic Petroleum Reserve Developments --Developments in other IEA Countries 8. Current IAB Activities 9. Report on Petroleum Coke Production, Trade, Use and Treatment in IEA Statistics by Working Group

10. Emergency Reserve Situation of IEA Countries --Emergency Reserve and Net Import Situation of IEA Countries on 1 April 1999 --Emergency Reserve and Net Import Situation of IEA Countries on 1 July 1999 11. Emergency Response Issues of IEA Candidate Countries --Emergency Response Review of the Czech Republic --Emergency Reserve Situation of IEA Candidate Countries 12. Emergency Data System and Related Questions --Base Period Final Consumption--`` Q398-Q299 --Monthly Oil Statistics (MOS) April 1999 --MOS May 1999 --MOS June 1999 13. Emergency Response Reviews of IEA Countries --Emergency Response Review of Germany --Emergency Response Review of France --Emergency Response Review of Turkey --Updated Schedule of Emergency Response Reviews 14. Emergency Reference Guide --Update of Emergency Contact Points 15. Other Business --Celebration of 25 years of SEQ work on energy security at November SEQ meeting

IV. The Agenda for the Brief Meeting of the IAB on September 27 (Item 2) Is Preparation for the Simulation Exercise

V. The Agenda for the IAB Meeting on September 30 (Item 5) is

• Approval of the Record Notes of Previous IAB Meetings • Lessons learned at the Seminar on IEA Oil Stock Strategy and the Disruption Simulation Exercise • Future IAB activities in support of the SEQ Work Program for 2000 • Succession of the IAB Chairmanship

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, representatives of the Departments of Energy, Justice, and State, the Federal Trade Commission, the General Accounting Office, Committees of Congress, the IEA, and the European Commission, and invitees of the IAB, the SEQ, or the IEA.

Issued in Washington, D.C., September 15, 1999. Mary Anne Sullivan, General Counsel. [FR Doc. 99-24539 Filed 9-17-99; 8:45 am] BILLING CODE 6450-01-P