Transcontinental Gas Pipe Line Company, LLC

Fourth Revised Volume No. 1

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Effective Date: 11/29/2009, Docket: RP09-558-000, Status: Effective

Second Revised Sheet No. 451 Second Revised Sheet No. 451

Superseding: First Revised Sheet No. 451

GENERAL TERMS AND CONDITIONS

(Continued)

42. CAPACITY RELEASE (Continued)

42.2 Definitions (Continued)

(f) Contingent Bids - If permitted by a Releasing Shipper, bidders may qualify their

acceptance of awarded capacity contingent upon such bidder obtaining other

released capacity, whether on Seller's system or a third-party pipeline. If a

contingent bidder declines awarded capacity, the next Best Bid shall be selected,

and so on, until all contingent bids related to such capacity have been

exhausted.

42.3 Release Rights. A Releasing Shipper may release its Releasable Firm Capacity

Entitlements in whole or in part, in segments, on a full or partial term basis, with

or without Recall Rights or any combination thereof. If a Releasing Shipper elects to

release all or a portion of its Releasable Firm Capacity Entitlement in a segment of

one of Seller's rate zones and to retain a portion of its Releasable Firm Capacity

Entitlement in another segment of that rate zone, then the Releasing Shipper's firm

capacity entitlement in the released segment shall be reduced by an amount equal to

the amount of its Releasable Firm Capacity Entitlement so released. In addition,

nominations in any segment in the applicable zone for receipt and delivery on a

secondary basis by the Releasing Shipper and any Replacement Shippers that derive a

firm capacity entitlement in that zone from the Releasing Shipper shall be permitted,

provided that the sum of the nominations in any segment on Seller's system shall not

exceed the original firm capacity entitlement in that segment of the Rate Schedule FT,

Rate Schedule FDLS or Rate Schedule FTN buyer from whom the Releasing Shipper's and

any Replacement Shippers' firm capacity entitlement was derived. If the sum of all

such nominated quantities exceeds the original firm capacity entitlement under Rate

Schedule FT, Rate Schedule FDLS or Rate Schedule FTN in that segment of the zone, the

nominations using capacity on a secondary basis in any segment covered by the

nomination shall be reduced on a pro rata basis, based upon nominated quantities in

each segment. Nominations that are not using capacity on a secondary basis in any

segment shall not be subject to reduction. Nominations for quantities received or

delivered on a secondary basis shall have the priority set forth in Section 28 of the

General Terms and Conditions and shall be subject to reduction or interruption as

specified in Sections 11 and 28 of the General Terms and Conditions.

42.4 Prearranged Releases Not Subject to Prior Notice

(a) A Releasing Shipper may release capacity to a qualified Replacement Shipper by

notifying Seller via 1Line or electronic data interchange provided the capacity

release

(i) is for any period of 31 days or less, or

(ii) is for any period greater than one year at maximum tariff rates, or

(iii) is to an asset manager as defined in Section 284.8(h)(3) of the

Commission's Regulations, or

(iv) is to a marketer participating in a state-regulated retail access program

as defined in Section 284.8(h)(4) of the Commission's Regulations.

Provided, however, any capacity release with a term greater than 31 days and less

than or equal to one year must be posted for bidding pursuant to the requirements

of Section 42.5 unless such release is to an asset manager or to a marketer

participating in a state-regulated retail access program pursuant to Section

42.4(a)(iii) or Section 42.4(a)(iv). The Releasing Shipper's notification to

Seller shall include the information set forth in Section 42.2(e). At the

request of the Releasing Shipper, releases pursuant to Section 42.4(a)(i), (iii)

or (iv) may be posted for bidding and, if so posted, are subject to the

requirements of Section 42.5.