Nautilus Pipeline Company, LLC

Original Volume No. 1

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Effective Date: 12/01/1997, Docket: CP96-790-003, Status: Effective

Original Sheet No. 114 Original Sheet No. 114 : Effective

GENERAL TERMS AND CONDITIONS

10. SERVICE REQUESTS AND CONTRACTING FOR SERVICE con't

firm capacity to Shippers having an unsatisfied

pre-November 1, 1996, Request for firm service

under Rate Schedule FT-1, Rate Schedule FT-2, and

Rate Schedule FT-3 in the order of the highest

economic value to Transporter on a net present

value basis, using as a discount factor the

Federal Reserve Board's Federal Funds Rate. All

capacity related to unsatisfied pre-November 1,

1996, Requests for service having the same

economic value to Transporter shall be allocated

among Shippers on a pro rata basis.

(b) The transportation service Request Date for all

Requests for firm transportation service under

Rate Schedule FT-1, Rate Schedule FT-2, or Rate

Schedule FT-3 received after 4:00 p.m. Houston,

Texas, time on October 31, 1996, shall be the

date Transporter receives a valid request

pursuant to this Section 10. All such requests

received on the same Day shall be deemed to have

the same date, and if the sum of all Requests for

firm service under Rate Schedule FT-1, Rate

Schedule FT-2, and Rate Schedule FT-3 exceeds the

certificated capacity of Transporter's Pipeline

Facilities then the available firm capacity shall

be allocated in the order of the highest economic

value of the bids to Transporter on a net present

value basis, using as a discount factor the

Federal Reserve Board's Federal Funds Rate. All

capacity related to Requests for firm service

under Rate Schedule FT-1, Rate Schedule FT-2, and

Rate Schedule FT-3 having the same economic value

to Transporter shall be allocated among Shippers

on a pro rata basis.