Panhandle Eastern Pipe Line Company, LP

THIRD REVISED VOLUME NO. 1

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Effective Date: 09/01/2004, Docket: RP04-426-000, Status: Effective

First Revised Sheet No. 111 First Revised Sheet No. 111 : Effective

Superseding: Original Sheet No. 111

RATE SCHEDULE GPS

GAS PARKING SERVICE

1. AVAILABILITY

This Rate Schedule is available for Gas Parking service provided

by Panhandle Eastern Pipe Line Company, LP (hereinafter called

Panhandle) for any party (hereinafter called Shipper):

(a) which has executed a Service Agreement in the form

prescribed under this Tariff for service under this Rate

Schedule; and

(b) which delivers Natural Gas or causes Natural Gas to be

delivered to Panhandle for subsequent delivery by

Panhandle for the account of Shipper.

2. APPLICABILITY AND CHARACTER OF SERVICE

This Rate Schedule shall apply to Gas made available by Shipper

to Panhandle in connection with firm or interruptible transportation

agreements and nominated for Parking service under this Rate

Schedule, subject to the General Terms and Conditions herein and the

further provisions of the Service Agreement.

The service provided hereunder is an interruptible service and

shall be provided only after all other services offered by Panhandle

are scheduled and to the extent permitted by Panhandle's system.

Providing Parking service shall not impede Panhandle's ability to

meet its firm and interruptible service obligations, including

Panhandle's system requirements and Panhandle's otherwise applicable

firm obligations under a GDS Service Agreement to provide no-notice

service up to the MDCQ of the underlying firm Transportation

Agreements. The service shall consist of: (1) the receipt/delivery

of a Quantity of Gas for Parking for Shipper's account at the

point(s) designated by Shipper, up to the maximum parked quantity as

specified in the Service Agreement; (2) the Parking of such Gas for

the account of Shipper at a specified Parking point; and (3) the

subsequent redelivery/receipt of such Gas to/from Shipper. Shipper

may utilize any point on the Master Parking Point List, subject to

Shipper's election below to have Panhandle utilize Shipper's Gas

Parking account to balance nominated receipts and deliveries at a

Pool Point under Shipper's associated Pooling Transportation

Agreement. The Master Parking Point List shall mean the current list

of points available to Shippers for Parking as posted on the

Messenger system. Gas that is delivered to a specific Parking point

for parking must be redelivered from the same Parking point. A

negative parked quantity received at a specific Parking point must be

redelivered to the same Parking point. Parking points shall be

maintained separately and may not be combined for nomination or

billing purposes.

Panhandle shall receive from Shipper such daily quantities of

Gas as are nominated and scheduled for Parking and park such quantity

for a minimum of one (1) day. Gas may be parked for a period of up

to thirty one (31) days and such period may be extended by Panhandle

as permitted by system operating conditions.