Panhandle Eastern Pipe Line Company, LP

THIRD REVISED VOLUME NO. 1

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

First Revised Sheet No. 112 First Revised Sheet No. 112 : Effective

Superseding: Original Sheet No. 112

RATE SCHEDULE GPS (Continued)

GAS PARKING SERVICE

Shipper's account may hold a negative parked quantity, which

shall mean the Quantity of Gas that Shipper has received from parking

in excess of the sum of the parked quantity at any point in time.

Nominations to receive such excess Quantity of Gas shall be confirmed

at Panhandle's reasonable discretion.

Panhandle shall accept Shipper's request to schedule a negative

parked Quantity when:

(a) The nomination does not interfere with Panhandle's ability

to provide services under all other Rate Schedules;

(b) Shipper's Transportation Service Agreement has sufficient

available capacity to receive or deliver Gas at the

Parking point;

(d) The nomination of such excess Quantity of Gas would have

no adverse effect on system operations; and

(e) The nomination does not result in an imbalance due

Panhandle on Shipper's Transportation Service Agreement.

A Pooling Shipper may elect to have Panhandle utilize the

Pooling Shipper's Gas Parking account to balance nominated receipts

and deliveries under Shipper's associated Pooling Transportation

Agreement at a Pool Point on a daily basis. Such election requires a

separate Parking Service Agreement. Pooling Shipper shall make such

election and specify the Pooling Transportation Agreement and Pool

Point at the time the Parking Service Agreement is executed.