Freebird Gas Storage, L.L.C.

First Revised Volume No. 1

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Effective Date: 10/01/2008, Docket: RP08-304-000, Status: Effective

Original Sheet No. 105 Original Sheet No. 105 : Suspended

 

2.46 "Shipper" means the party (a) that holds all lawful title and/or right to

the Gas that is being stored or parked or that borrows Gas from Freebird, and

(b) who executes a Service Agreement with Freebird.

 

2.47 "Storage Inventory" means the quantity of working Gas, expressed in Dth,

that a Shipper has in place in Freebird’s storage facilities for Shipper’s

account, provided that the Storage Inventory shall never exceed Shipper’s

Maximum Storage Quantity.

 

2.48 "Storage Reservation Charge" means the demand charge paid by Shipper to

reserve capacity under a Firm Storage Service Agreement.

 

2.49 "Substitute Reference Price" means the substitute "Reference Price" as

determined by the following procedures: If at any time the Reference Price is

no longer published in the manner described in the definition for Reference

Price, Freebird shall provide notice ("Substitute Reference Price Notice")

thereof to Shipper, in which event the Parties shall attempt to agree on a

Substitute Reference Price. If the Parties are unable to reach agreement on a

Substitute Reference Price within 15 Business Days following delivery of the

Substitute Reference Price Notice, either Party will be entitled to require

that the determination thereof be submitted for resolution to an independent

consultant having the requisite expertise, selected by Freebird in its sole

but reasonable discretion. The independent consultant will be instructed to

select a price reference or index that, in the reasonable and fair opinion of

the independent consultant, most accurately reflects, as applicable, the Daily

or Monthly spot-market price for gas delivered on the relevant Transporter by

way of an inventory transfer. The independent consultant’s determination

shall be final and binding on the Parties.

 

2.50 "System" or "Storage Facility" means the storage facilities, flow lines,

lateral, measurement, compression, and related facilities owned, leased, or

operated by or for Freebird in Lamar County, Alabama.

 

2.51 "Title Transfer" means the change of title to Gas between parties at a

location.

 

2.52 "Title Transfer Tracking" means the process of accounting for the

progression of title change from party to party that does not effect a

physical transfer of the Gas.

 

2.53 "Title Transfer Tracking Service Provider" or "TTTSP" means a party

conducting the title transfer tracking activity.

 

2.54 "Transporter" means the upstream or downstream pipeline transporter

designated to deliver or receive Gas to/from the Point of Injection/Withdrawal

on behalf of Shipper.

 

3. REQUEST FOR SERVICE

3.1 Open Season.

(a) Notice of open season. Upon the availability of firm capacity or at the

expiration of any Long Term Firm Storage Service Agreement with a Shipper,

Freebird may post notice of an open season on its Internet Web Site for the

bidding of such capacity, at least ten (10) days prior to commencement of the

open season. Alternatively, Freebird may sell such capacity to Qualified

Shippers via