PetroLogistics Natural Gas Storage LLC

Original Volume No. 1

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Effective Date: 06/03/2009, Docket: RP09-577-000, Status: Effective

Original Sheet No. 121 Original Sheet No. 121

 

recall notification must be provided exclusively on a Business Day, and (ii) any reput methods and

rights associated with returning the previously released capacity to the Replacement Shipper;

(h) Whether bids on a volumetric rate basis may be submitted, and, if so, the method for evaluating

any such bids, including how to rank bids if bids are also to be accepted on a demand charge basis

and any other special conditions;

(i) Whether contingent bids that extend beyond the bid period may be submitted, how to evaluate

and prioritize such bids against non-contingent bids, and the terms and conditions under which,

and/or for what time period, the next highest bidder will be obligated to acquire the capacity

should the winning contingent bidder withdraw its bid;

(j) Any extensions of the minimum posting/bid periods;

(k) Whether Releasing Shipper desires to utilize the first-come, first-served option for short-

term releases described in Section 8.3(a) below and any minimum terms applicable thereto;

(l) Other special terms and conditions Releasing Shipper imposes on the release of its capacity,

including, but not limited to, minimum rates, term and quantity;

(m) Whether to specify dollars and cents or percents of maximum tariff rate in the denomination of

bids. All transportation service providers should support this. Once the choice is made, the bids

shall comport with the choice;

(n) For purposes of bidding and awarding, the rates specified by the Releasing Shipper shall

include a reservation rate and all demand surcharges, either as a total number or stated

separately;

(o) Whether the release is on a permanent or a temporary basis;

(p) An e-mail address for the Releasing Shipper contact person. It is Shipper's responsibility

to update e-mail address information provided to PetroLogistics as necessary;

(q) The recall notification period(s), as identified in Section 8.13(e) below, that will be

available for use by the parties; and

(r) A detailed description of any storage inventory that must be transferred with the released

capacity.

8.2 Intraday Release Quantity

The daily contractual entitlement that can be released by a Releasing Shipper for an intraday

release is limited to the lesser of:

(a) The quantity contained in the offer submitted by the Releasing Shipper; or

(b) A quantity equal to 1/24th of the Releasing Shipper's MDIQ and MDWQ for the contract to

be released multiplied by the number of hours between the effective time of the release and the

end of the Day.

This allocated daily contractual entitlement shall be used for purposes of nominations,

billing, and if applicable, any overrun calculations.