Panhandle Eastern Pipe Line Company, LP

THIRD REVISED VOLUME NO. 1

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Effective Date: 04/22/2006, Docket: RP06-275-000, Status: Effective

First Revised Sheet No. 639 First Revised Sheet No. 639 : Effective

Superseding: Original Sheet No. 639

RATE SCHEDULE FS (Continued)

FLEXIBLE STORAGE SERVICE

FORM OF STORAGE AGREEMENT

the Maximum Rate applicable to that rate component. Such changes to

rate components shall be applied prospectively, commencing with the

date a Commission order accepts revised tariff sheets. However,

nothing contained herein shall be construed to alter a refund

obligation under applicable law for any period during which rates

which had been charged under a discount agreement exceeded rates

which ultimately are found to be just and reasonable. Any

discount(s) shall be effective only on a prospective basis and as

specified in the written agreement between Panhandle and Shipper.

From time to time Panhandle and Shipper may agree to a

Negotiated Rate for a specified term for service hereunder.

Provisions governing such Negotiated Rate and term shall be set forth

on Exhibit A hereto.

ARTICLE 3

POINTS OF RECEIPT AND DELIVERY

During the Injection Period Gas shall be received by Panhandle

from Shipper for injection into storage and during the Withdrawal Period

the Stored Volume withdrawn for the account of Shipper hereunder shall

be delivered to Shipper, at the WS Point as defined in the General Terms

and Conditions on a firm basis.

ARTICLE 4

TERM

4.1 This Agreement shall be effective from the date first

stated above. Panhandle shall provide firm storage service for

Shipper pursuant to this Agreement from until

________________, when the term of this Agreement shall expire, unless

extended pursuant to Section 7.7 of the General Terms and Conditions.

ARTICLE 5

GENERAL TERMS AND CONDITIONS

This Agreement and all terms for service hereunder are subject

to the further provisions of Rate Schedule FS and the General Terms

and Conditions of Panhandle's Tariff, as such may be modified,

supplemented, superseded or replaced generally or as to the service

hereunder. Panhandle reserves the right from time to time to

unilaterally file and to make effective any such changes in the

provisions of Rate Schedule FS and/or the General Terms and

Conditions, subject to the applicable provisions of the Natural Gas

Act and the Commission's Regulations thereunder. Such Rate Schedule

and General Terms and Conditions, as may be changed from time to

time, are by this reference incorporated in their entirety into this

Agreement and made an integral part hereof.