Panhandle Eastern Pipe Line Company, LP

THIRD REVISED VOLUME NO. 1

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Effective Date: 06/30/2004, Docket: RP04-321-000, Status: Effective

Original Sheet No. 286 Original Sheet No. 286 : Effective

GENERAL TERMS AND CONDITIONS

(Continued)

14. POOLING AND IN-FIELD TRANSFERS OF STORAGE INVENTORY

14.1 Pooling

(a) A Transportation Agreement may become a

Corresponding Transportation Agreement by:

(1) designating a Pool Point as a Point of Receipt,

and (2) designating a Pooling Transportation

Agreement(s) as the Transportation Agreement

delivering Gas to the Corresponding Transportation

Agreement at the Pool Point. The Maximum Daily

Contract Quantity of the Corresponding

Transportation Agreement assigned to the Pool Point

shall not be less than the Maximum Daily Contract

Quantities of the firm Pooling Transportation

Agreement(s) designated in the Corresponding

Transportation Agreement.

Deliveries under the Pooling Transportation

Agreement(s) designated in the Corresponding

Transportation Agreement on any Day shall be

equivalent to the total Quantities of Gas nominated

for receipt at the Pool Point under the

Corresponding Transportation Agreement.

(b) Quantities of Gas delivered at the Pool Point under

a Pooling Transportation Agreement shall be deemed

to have been delivered to the extent of the total

amount of Corresponding Shipper's nominated

Quantities of receipt at the Pool Point. It shall

be the responsibility of the Shipper under the

Pooling Transportation Agreement to assure that the

total nominations of Gas to be received at the Pool

Point under the Corresponding Transportation

Agreement is in balance with the total Quantities

of Gas such Shipper causes to be received into

Panhandle's system, adjusted for Fuel

Reimbursement. If the Pooling Shipper has executed

a Gas Parking Service Agreement and if the Pooling

Shipper has so elected in accordance with the terms

of Rate Schedule GPS, Panhandle shall utilize the

Pooling Shipper's Gas Parking account to balance

the total Quantities of Gas delivered to the Pool

Point with the total nominations of gas to be

received at the Pool Point under the Corresponding

Transportation Agreement. To facilitate scheduling

of Corresponding Transportation Agreements,

Panhandle shall accept from the Pooling Shipper a

prescribed methodology for ranking of Corresponding

Shippers' nominated Quantities for receipt at the

Pool Point. Such methodology shall be provided by

the Pooling Shipper to Panhandle by the nomination

deadline for the applicable nomination cycle. In

the absence of such methodology, scheduling shall

be pro-rata.