Keyspan LNG, LP (Alng)

Third Revised Volume No. 1

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Effective Date: 01/27/2003, Docket: RP03-241-000, Status: Effective

Original Sheet No. 55 Original Sheet No. 55 : Effective

 

Joseph A. Vaszily, Vice President

 

GENERAL TERMS AND CONDITIONS

(continued)

 

13. PROCEDURES FOR AVOIDANCE OF PREGRANTED ABANDONMENT (continued)

 

retracted in writing or until KLNG accepts a competing bid. To be a

valid bid, a bid must comply with the bid requirements set forth in

Section 13.6. At the close of such bidding period, KLNG shall select

among the valid bids the Best Bid, as determined pursuant to Section

13.7, and shall relay the relevant terms of such Best Bid to the

Customer whose long-term firm service agreement is being terminated

by KLNG. If Customer elects to match, as determined by Section 13.8,

the Best Bid, the Customer shall be entitled to retain its capacity

and continue to receive service under a long-term firm service

agreement which reflects the matching of the relevant terms of the

Best Bid. If Customer does not match the Best Bid, then Customer's

existing long-term firm service agreement shall terminate and KLNG

shall have all necessary abandonment authorization under the Natural

Gas Act. In the event there is no Best Bid for Customer to match,

Section 13.9 shall determine whether Customer shall be entitled to

retain its capacity and continue to receive service.

 

13.6 Bid Requirements. To be a valid bid, a bid must be in writing and be

executed by one authorized to sign contractual agreements on behalf

of the Potential Customer, and the Potential Customer must in all

other particulars have complied with the requirements for a request

for service pursuant to Section 2 and meet the credit evaluation

standards set forth in Section 3 of these General Terms and

Conditions. If the Potential Customer's bid is matched or if the

Potential Customer fails to satisfy all of KLNG's tariff provisions

governing Customer eligibility, KLNG will refund the Potential

Customer's prepayment supplied pursuant to Section 2 of the General

Terms and Conditions. The prepayment will not be refunded if the bid

is withdrawn by the Potential Customer. KLNG may reject all bids

which would require KLNG to discount below a rate and discount term

agreeable to KLNG.