Natural Gas Pipeline Company Of America

Seventh Revised Volume No. 1

Effective Date: 04/18/2008, Docket: RP08-319-000, Status: Effective

Original Sheet No. 324 Original Sheet No. 324 : Pending

GENERAL TERMS AND CONDITIONS

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(ii) Trades must commence on the first day of a

month and continue for a minimum period of one (1) calendar month.

Trades of rights under Rate Schedule NSS may continue for a period

exceeding one (1) year, but any trade under Rate Schedule DSS must

conclude no later than the end of the injection season during which the

trade is in effect.

(iii) Trades must include both daily and

inventory rights and the relative volumes of such rights must be based

on the definition of such rights in the applicable tariff provision.

Daily rights and inventory rights must revert to the original Shipper

simultaneously at the end of the trade.

(iv) Once Shippers have agreed upon a conforming

trade, such Shippers shall notify Natural of the trade in writing or,

if available, on Natural's Interactive Website. Such notices must

specify the volumes of daily injection and/or withdrawal rights

involved, the total inventory and/or withdrawal rights involved, the

total inventory rights being traded, whether such rights are Amarillo

or Gulf Coast, the dates on which the trade is to commence and

terminate and the contracts affected. Such notice must also reflect

the consent of all Shippers involved in the trade. Any Shipper seeking

to participate in a trade may submit an advertisement pursuant to

Section 20 of these General Terms and Conditions. For a qualifying

trade to be effective for any month, conforming notification of the

trade must be received by Natural at least one (1) business day prior

to the date nominations are due for the first of the month. Once the

trade commences, the rights of the parties to injections and/or

withdrawals and to inventory under their respective Agreements shall be

adjusted accordingly. With respect to any trade, each party which is

participating in the trade must conform its inventory to the applicable

requirements (including cycling requirements) once the trade has

terminated.