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. 123 Original Sheet No. 123

 

-The bid period shall end at 1:00 p.m. CT on the day before timely nominations are due (open

season is three (3) Business Days) or at 1:00 p.m. CT on any subsequent Business Day as specified

in Releasing Shipper's offer, whichever is elected by Releasing Shipper;

-Evaluation period begins at 1:00 p.m. CT on the day the bid period ends, during which contingency

is eliminated, determination of best bid is made, and ties are broken;

-Evaluation period ends and award is posted if no match is required at 2:00 p.m. CT the same day;

-If the Prearranged Shipper's bid is not the "best bid," PetroLogistics shall allow such Prearranged

Shipper a Matching Period of thirty (30) minutes from 2:00 P.M. CT until 2:30 P.M. CT on the day the

Bid Period ends, or such later time as specified in the Releasing Shipper's offer, to determine

whether to match the "best bid" and to notify PetroLogistics of its decision.

-If a match is required, the award will be posted by 3:00 p.m. CT.

PetroLogistics will issue a contract within one hour of the award posting (with a new contract

number, when applicable). Nominations for gas flow are possible beginning at the next available

nomination cycle for the effective date of the contract. Such nominations will be processed in

accordance with the nomination and scheduling requirements of Section 6 of the General Terms and

Conditions; however, in no circumstance will gas flow prior to the effective date of the release as

specified in Releasing Shipper's offer.

(c) Timeline for non-standard releases. If Shipper specifies a bid evaluation methodology other

than those stated in Section 8.3 or any special terms or conditions, the above timelines shall apply;

provided, however, one additional Business Day will be added to the evaluation period. Subsequent

deadlines will be delayed by such additional Business Day, causing gas flow to occur at least one

day later than under the standard timelines set forth in Sections 8.3(a) and 8.3(b).

(d) Releases Not Subject to Bidding. For proposed capacity releases of a duration of thirty-one

(31) days or less, to an asset manager (as defined by FERC regulations at 18 C.F.R. § 284.8(h)(3))

or to a marketer participating in a state-regulated retail program (as defined by FERC regulations

at 18 C.F.R. § 284.8(h)(4)) are not required to be posted for bidding pursuant to Section 8.3.

Nonetheless, Releasing Shipper may elect to post one of the foregoing releases for bidding pursuant

to Section 8.3. Releasing Shipper shall notify PetroLogistics of the foregoing releases by providing

the information pursuant to Section 8.1, which information will be posted on the Web Site as

required by Section 8.5 in accordance with the following timelines:

Timely Cycle:

Posting of prearranged deals not subject to bid are due by 10:30 a.m. CT.

Evening Cycle:

Posting of prearranged deals not subject to bid are due by 5:00 p.m. CT.

Intraday 1 Cycle:

Posting of prearranged deals not subject to bid are due by 9:00 a.m. CT.

Intraday 2 Cycle:

Posting of prearranged deals not subject bid are due by 4:00 p.m. CT.

Prior to the nomination deadline for the chosen cycle for the begin date specified in

Shipper Notice, the