Gulfstream Natural Gas System, L.L.C.

Original Volume No. 1

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Effective Date: 05/21/2002, Docket: CP00- 6-004, Status: Effective

Original Sheet No. 142 Original Sheet No. 142 : Effective

 

 

 

GENERAL TERMS AND CONDITIONS

(CONTINUED)

 

 

(d) A Cashout of Transportation Imbalances at prices above

or below the average Midpoint price shall not occur if

it has been determined that such Transportation

Imbalances are due to Transporter's negligence.

Additionally, a Cashout of Transportation Imbalances

due to Imbalance Due Transporter quantities or

Imbalance Due Cashout Party quantities shall be

limited to the average Midpoint price if such

imbalances occurred during circumstances of Force

Majeure that directly affect the Transporter's or

upstream or downstream facilities over which Gas is

transported under the applicable Agreement, or during

circumstances of Force Majeure that directly affect

Shipper's facilities for the period until Shipper has

an opportunity to adjust its nominations, or were the

direct result of an OFO issued to the Shipper or its

supplier.

 

8.8 Cashout of Transportation Imbalances at Agreement

Expiration. At the time of expiration of an Agreement, all

Transportation Imbalances shall be resolved pursuant to the

provisions of Section 8.7 above.

 

8.9 Annual System Cashout Mechanism. Transporter shall

establish an annual mechanism to determine the costs of

implementing this Cashout provision. Such mechanism shall

calculate, on a system-wide basis, the annual gross balance

(positive or negative) derived from the Cashout program,

which will be accounted for and disposed of in accordance

with Section 23.3 of the General Terms and Conditions.