Garden Banks Gas Pipeline, LLC

Original Volume No. 1

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Effective Date: 11/01/1999, Docket: RP00- 19-000, Status: Effective

First Revised Sheet No. 304 First Revised Sheet No. 304 : Effective

Superseding: Original Sheet No.304

FORM OF NGL BANK AGREEMENT

 

 

This NGL Bank Agreement ("Agreement") is made and entered

into this ________ day of _______, _____ between Southern

Petroleum Laboratories ("Administrator") and ____________________

("Shipper").

 

WHEREAS, Garden Banks Gas Pipeline, LLC ("Transporter")

operates the Garden Banks Gas Pipeline ("Transporter's

Facility"); and

 

WHEREAS, Shipper's natural gas is transported on

Transporter's Facility pursuant to Transportation Service

Agreement(s) or Service Agreement(s) for Temporary Release of

Firm Transportation Capacity ("TSA") between Shipper and

Transporter; and

 

WHEREAS, Transporter and Shipper desire to establish a NGL

Bank for the benefit of all shippers on Transporter's Facility;

and

 

WHEREAS, Administrator has agreed to administer such a NGL

Bank for the benefit of all shippers on Transporter's Facility in

accordance with the terms and conditions contained herein;

 

NOW THEREFORE, Administrator and Shipper agree as follows:

 

 

ARTICLE I

PURPOSE

 

The purpose of the NGL Bank is to provide a mechanism by which to

mitigate inequities that may occur between shippers on

Transporter's Facility as a result of such shippers' natural gas

streams containing different NGL (as defined herein) compositions

being commingled in a pipeline with multiple delivery points

located upstream of gas processing facilities. Transporter's

obligation to accept natural gas tendered by Shipper at the

Receipt Point and to deliver "equivalent quantities", as defined

in Transporter's Original Volume No. 1 Gas Tariff, at the

Delivery Points under the provisions of a TSA shall not be

modified by any provision of this Agreement. Therefore, Shipper

acknowledges that Transporter is not obligated to deliver to any

shipper at a Delivery Point the same volume of liquefiable

hydrocarbons as it received from the same shipper at a Receipt

Point.