Iroquois Gas Transmission System, L.P.

FIRST REVISED VOLUME NO. 1

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Effective Date: 01/01/1996, Docket: RP96- 63-000, Status: Effective

First Revised Sheet No. 32 First Revised Sheet No. 32 : Effective

Superseding: Original Sheet No. 32

RATE SCHEDULE PAL

PARK AND LOAN SERVICE

1. AVAILABILITY

This Rate Schedule PAL is available for park and loan

service by Transporter to any Shipper, where:

(a) Shipper has made a valid request for service as

defined in Section 3 of the General Terms and Conditions of

Transporter's currently effective FERC Gas Tariff;

(b) Shipper and Transporter have entered into a Park

and Loan Service Contract under this Rate Schedule;

(c) Transporter has sufficient capacity available to

render the Park and Loan Service pursuant to Section 4 of this

Rate Schedule and Section 4 of the General Terms and Conditions

of Transporter's currently effective FERC Gas Tariff;

(d) except where Shipper is both the ultimate consumer

and producer of gas which is being parked or loaned under this

Rate Schedule, contracts have been entered into by or on behalf

of Shipper for the purchase or sale of natural gas, as the case

may be, and for its delivery to Transporter at one or more

Receipt Points on Transporter's system;

(e) either (1) Shipper's natural gas facilities or the

facilities where the gas is to be consumed interconnect with

Transporter's natural gas transmission system at one or more

Delivery Points, or (2) contracts have been or will be entered

into on behalf of Shipper for the transportation of the gas to

and from Transporter's system to such facilities;

(f) all necessary regulatory and governmental approvals

to purchase and sell, transport and, if appropriate, import the

natural gas to be transported by Transporter have been obtained;

and

(g) Shipper has met Transporter's Financial

Creditworthiness Criteria as set forth in Section 3.5 of the

General Terms and Conditions.