Pine Needle LNG Company, LLC

Original Volume No. 1

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Effective Date: 02/22/2009, Docket: RP09-239-000, Status: Effective

Third Revised Sheet No. 69 Third Revised Sheet No. 69

Superseding: Second Revised Sheet No. 69

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

 

20. CAPACITY RELEASE (Continued)

 

20.2 Definitions. The definition of terms applicable to this section are as follows:

(Continued)

 

(e) Contingent Bids - If permitted by a Releasing Customer, bidders may qualify their

acceptance of awarded capacity contingent upon such bidder obtaining other

released capacity, whether on Pine Needle'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.

 

(f) Reput Rights - An indication, specified at the time of the deal, whether

Releasing Customer may reput capacity to Replacement Customer after a recall.

 

20.3 Release Rights. A Releasing Customer may release its Releasable Firm Capacity

Entitlements in whole or in part on a full or partial term basis, with or without

Recall Rights or any combination thereof.

 

20.4 Prearranged Releases Not Subject to Prior Notice

 

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

notifying Pine Needle via Pine Needle's EBB service 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 that 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 20.5 unless such release is to an asset manager or to a marketer

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

20.4(a)(iii) or Section 20.4(a)(iv). The Releasing Customer's notification to

Pine Needle shall include the information set forth in Section 20.2(d). At the

request of the Releasing Customer, releases pursuant to Section 20.4(a)(i), (iii)

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

requirements of Section 20.5.

 

(b) Pine Needle shall post notice of the transaction on Pine Needle's EBB service or

electronic data interchange in accordance with the provisions of Section 20.9.

The notification shall include the information set forth in Section 20.2(d).

 

(c) Any release pursuant to Section 20.4(a)(i) may not be rolled over, extended or in

any way continued to the same Replacement Customer unless a period of at least 28

days has elapsed since the end of the initial release. The 28-day hiatus does

not apply to any re-release to the same replacement shipper that is posted for

bidding or to capacity released under Section 20.4(a)(ii), (iii) or (iv).