Saturday, September 13th Port Alberni, BC
Elliot was looking forward to this. He had contacted the Sumi Corporation, a large Japanese trading company, to explore their interest in the project. Sumi was known for their innovative capabilities; he had worked closely with them during his engineering firm’s fuel-cell cycle development. Sumi agreed immediately to Elliot’s suggestion of a meeting, and had sent their petrochemical representative.
Glancing at the ‘closed for cleaning’ sign, he entered the cafĂ© and was delighted to see his friend.
"Denzio. So very good to see you again." Elliot had known Denzio Tamari from conferences and discussions on fuel-cell development. They had maintained a long-distance friendship over the years through e-mail, frequently exchanging ideas, reviewing papers they had written.
"Thank you, Elliot," he was all smiles. " I look forward to working with you again."
Hank burst through the door and joined the group. Elliot introduced the gentlemen and asked Denzio if he had met Wilma. "Yes, I have. We have been having a very enjoyable conversation and I have had several pieces of raspberry pie – what a treat."
"Wonderful. Let’s get started then," he said. "Here is the situation in a nut-shell, Denzio. We have made a small, by your standards, petrochemical discovery on the island, and in a short while we will have penetrated the crust of an oil deposit, providing us with a resource that could provide the needs of the island, while still enabling some export capabilities. We had considered building a refinery, but the time frame requires us to look at other options. A refinery may evolve at some point, but for now, our primary focus is on export."
Elliot continued, "As you know, we have a deep water port that is large enough for your medium sized tankers. The well-head is only about 12 kilometres from the dockside. What we need are the end components, storage tanks and docking facilities for the tankers."
Denzio waited for a pause, then asked, "How much would you estimate there to be for potential export?"
He looked at his old friend: "We don’t know. We do know it should be very lucrative over time. I would estimate that it will have a better than average flow and that maybe 70% of the output would be available for export. Additionally, as part of the arrangement, we would also wish to purchase back the island’s requirement of refined products – which could be delivered by the same process, only in reverse."
They told him of the newly formed company, and that the agreements would be through Sumi Corporation and H&E Fuels. After reviewing more of the details, Denzio said that he felt the arrangement would be satisfactory.
Hank stated, "Well, then. I guess we have a deal. Is there a time frame you need to get approval from the company back in Japan, Mr. Tamari?"
"Thank you, Mr. MacDougall, but I carry the authority to make this deal with me. In fact, I even brought my favourite pen!" They enjoyed the laugh, Mr. Tamari, in particular. He was beaming from ear to ear.
***
Shortly after returning to Tokyo, Denzio Tamari met with the board of Sumi Corporation. He described at great length his trip to Vancouver Island, the people he had met, and the apparent high-risk, paper-thin venture with H&E Fuels. He also, quietly and with great deference, described that Mr. Stevens and his associates were not quite able to hide the potential – the possible enormity of what this deal might mean for Sumi Corporation, and of course for Japan. That H&E Fuels had emphasised the requirement that the facility be up and running within six months, only confirmed there was much that had not been revealed.
"There were only two reasons I would assign as to why they did not reveal the true size and structure of what they were proposing: (1) We have not yet earned their trust, which we can easily overcome with time; or (2) They were unable, no matter how much they wished, to reveal the full story to me or to anyone at this time."
"In view of the situation in Canada – and in view of what our eyes and ears are telling us, both in Canada and in the U.S. and especially in Washington, it appears this collaboration with H&E Fuels on Vancouver Island was fateful and fortuitous for us, at this point in time."
The Board concurred and instructed him to stay with it.