Visions - Winter 2008 - 5

Above, the Woodlands, Texas office expansion will be finished by the beginning of April. With business well-established in the West, the company has turned its eyes to growing its presence across the United States, and PSE is expanding its supply, trading and operations office in Woodlands, Texas, outside Houston. gas imports from Canada are reduced in the future, liquefied natural gas (LNG) from various sources will play a greater role in the North American energy mix, and PSE is in a position to negotiate that business. Since the largest consumer of natural gas in North America is the electric generation industry, PSE reaped the benefits of seeking innovative ways to provide natural gas to that industry and to expand its transactions with electric utilities and independent power producers. PSE quickly rose to become one of the top 10 marketertraders of electric power at a major delivery point for power in northern California. Although Mock credits much of the success to qualified, dedicated staff whose background was rooted in the energy arena, he also notes their geographicallyplaced offices that take advantage of key business proximity. “Most of the key employees had managed natural gas businesses in the western United States,That reflects the initial business plan’s initiative to prove that establishing a profitable business in the west was possible.The corporate office was opened in California mid-way between Los Angeles and San Diego and within one hour’s flight from San Francisco and the Bay area.The idea there was that a southern California location provided access to a significant number of municipal and investor-owned gas distribution and electric generation utilities, independent power generators, co-generators and commercial/industrial customers.” With business well-established in the West, the company has turned its eyes to growing its presence across the United States, and PSE is expanding its supply, trading and operations office in Woodlands,Texas, outside Houston.The Woodlands office was also opened at the start of PSE to manage supply and trading activities, and soon, they added more personnel with experience in the northeast, eastern seaboard, southeast and Gulf Coast areas, and has plans to add even more. “The growth of the business has allowed PSE to move into larger offices in Orange County,” Mock declared.“PSE also looks forward to moving into a much larger and newer facility in Texas at the beginning of April.We’ll increase the size of the Woodlands office by 300 percent, and we’re excited about expanding our operations in Houston, which is considered an energy hub in the business world.” Mock sees SCOA and Sumitomo’s presence in the North American energy industry continuing to grow, and PSE helping reach the common overall goals. “The success of PSE and Sumitomo’s other energy-related businesses active in the industry encourages more growth and ratifies PSE’s presence. It underscores that the Sumitomo energy sector of businesses is an important part of the overall business strategy, and we are proud of our place within that strategy. The goal in 2008 is to be recognized nationally as a supplier and trader of natural gas and power.” For more information, contact Brian.Mock@sumitomocorp.com. Sumitomo Corporation of America 5
Visions - Winter 2008

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