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. 61 Original Sheet No. 61 : Effective

 

 

GENERAL TERMS AND CONDITIONS

(continued)

 

14. CAPACITY RELEASE (continued)

 

(e) Bids. Only Approved Bidders that have executed a Capacity

Release Umbrella Agreement, the form of which is contained in

this tariff, may bid on capacity which the Releasing Customer

proposes to release. Bids shall be submitted to KLNG either by

telephone or by facsimile and posted on KLNG's Internet Web site

during the Bid Period. Upon request prior to the close of a Bid

Period, KLNG will disclose the terms of submitted bids (other

than the bidders' names). The bidder shall provide confirmation

by facsimile prior to posting by KLNG on its Internet Web site of

the terms of any bid given by telephone. Bids must meet the

minimum terms of Releasing Customer's Notice in order to be

considered a valid bid. Invalid bids shall be rejected. KLNG

shall select the bid to be accepted in accordance with Section

14.5(b). If permitted by Releasing Customer's Notice, and

subject to the provisions thereof, any bid may be made contingent

upon the bidder's acquiring related upstream or downstream

arrangements identified in the bid. Any bidder making such a

contingent bid shall confirm that the contingency has been

satisfied or eliminated according to the procedures set forth in

Releasing Customer's Notice, failing which the bid shall no

longer be considered a valid bid.

 

(f) If there are awards of capacity for which there have been

multiple bids meeting minimum conditions, the best bid shall be

awarded first, until all offered capacity is awarded.