Columbia Gulf Transmission Company

Second Revised Volume No. 1

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Effective Date: 01/16/2005, Docket: RP05-126-000, Status: Effective

Second Revised Sheet No. 87 Second Revised Sheet No. 87 : Effective

Superseding: First Revised Sheet No. 87

PAL RATE SCHEDULE

PARKING AND LENDING SERVICE (Continued)

 

requirements. Further, Shipper may be required to return loaned quantities or remove parked quantities upon

notification by Transporter. Such notification shall be by Transporter's EBB and Internet e-mail.

Transporter shall not recall from (or require withdrawal by) any Shipper, on any day, any quantity greater

than one-tenth (1/10th) of the Shipper's outstanding park or loan balance; provided, however, that in no

event shall Transporter be restricted when recalling (or requiring the withdrawal of) less than 5,000 Dth

from any Shipper on any day nor shall any Shipper be permitted to extend the term of its park or loan by

reason of this limitation. Transporter's notification shall specify the time frame within which parked

quantities shall be removed or loaned quantities shall be returned, consistent with Transporter's operating

conditions; provided, however, that in no event shall the specified time be sooner than the next Day after

Transporter's notification, subject to the following conditions:

 

(i) In the event that Shipper makes a timely and valid nomination, which Transporter subsequently

confirms, in response to notification by Transporter to remove parked quantities or return loaned

quantities, Shipper shall be deemed to have complied with Transporter's notification; and

 

(ii) Unless otherwise agreed by Transporter and Shipper: (1) any parked quantity not removed

within the time frame specified by Transporter's notice shall become the property of Transporter at no cost

to Transporter, free and clear of any adverse claims; (2) any loaned quantity not returned within the time

frame specified by Transporter's notice shall be sold to Shipper at 150 percent of the Spot Market Price for

each Dth.

 

(b) In the event that parked quantities remain in Transporter's system and/or loaned quantities

have not been returned to Transporter's system at the expiration of any Service Agreement executed by

Transporter and Shipper, Transporter and Shipper may mutually agree to an extended time frame and/or

modified terms, including the rate, of such Service Agreement. In the event that Transporter and Shipper

are unable to come to such agreement, Transporter shall notify Shipper, and Shipper shall nominate for

removal of the parked quantities or return of the loaned quantities within the time frame specified in

Transporter's notice, which in no event shall be less than ten (10) Days; provided, however, that

Transporter shall always have the right to recall up to 5,000 Dth from Shipper on any day. Any parked

quantities not removed within the time frame specified by Transporter's notice shall become the property of

Transporter at no cost to Transporter, free and clear of any adverse claims. Transporter shall post such

forfeited quantities on its Internet EBB as gas available for sale to the highest bidder within a 24 hour

notice period. Upon receipt of payments, Transporter shall credit to the account of the Shipper whose gas

was forfeited 80 percent of the proceeds from such sale, and shall retain the remaining 20 percent of such

proceeds as a reimbursement fee. If Shipper does not return loaned quantities within the time frame

specified by Transporter's notice, Shipper shall reimburse Transporter for the cost of each Dth of the

loaned quantity ("Reimbursement Fee"). The Reimbursement Fee shall be determined by selling the gas to

Shipper at 150 percent of the Spot Market Price. In the event that Shipper makes a timely and valid

nomination, which Transporter subsequently confirms, in response to notification by Transporter to remove

parked quantities or return loaned quantities, Shipper shall be deemed to have complied with Transporter's

notification. In the event that Shipper makes a timely and valid nomination to clear a remaining parked

quantity and Transporter does not have sufficient capacity to allow the required park withdrawal, Shipper

shall be allowed an additional day for each such constrained day during the timeframe specified in

Transporter's notice to clear the remaining parked quantity. In the event that Shipper makes a timely and

valid nomination to clear a remaining loan payback, Shipper shall be allowed an additional day for each such

constrained day during the timeframe specified in Transporter's notice to clear the remaining loaned

quantity.

 

(c) The Reimbursement Fee shall be considered Penalty Revenue and Transporter shall credit them

in accordance with the provisions of Section 19.6 of the General Terms and Conditions.

 

(d) For purposes of this Section 5, "Spot Market Price" shall be defined, for each Dth on each

applicable Day on which the gas was to be repaid, as follows: (a) for the mainline system, the "Columbia

Gulf, Mainline" price index for Louisiana-Onshore South as published in Gas Daily's Weekly Weighted Average

Prices Survey, or any successor publication, applicable to the period in which the gas was to be repaid; (b)

for the onshore lateral system, the "Columbia Gulf, LA" price index for Louisiana-Onshore South, as

published in Gas Daily's Weekly Weighted Average Prices Survey, or any successor publication, applicable to

the period in which the gas was to be repaid; and (c) for the offshore lateral system, the "Columbia Gulf,

LA" price index for Louisiana-Onshore South, as published in Gas Daily's Weekly Weighted Average Prices

Survey, or any successor publication, applicable to the period in which the gas was to be repaid, less

applicable transportation charges.