Stingray Pipeline Company, L. L. C.

Third Revised Volume No. 1

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Effective Date: 03/01/2009, Docket: RP09-331-000, Status: Effective

Sixth Revised Sheet No. 148 Sixth Revised Sheet No. 148

Superseding: Fifth Revised Sheet No. 148

GENERAL TERMS AND CONDITIONS

16. CAPACITY RELEASE BY FIRM SHIPPERS

16.1 GENERAL

(a) Subject to the terms, conditions and limitations set

forth in this Section 16, a Shipper holding capacity

rights under an Eligible Firm Transportation Agreement

shall have the right to release all or a portion of

such capacity rights and, if a capacity release is

effectuated under this Section 16, to receive a credit

for reservation charge revenues received by Stingray

from that other Shipper for such released capacity.

(b) The deadlines set forth in this Section 16 are

applicable to all parties involved in the capacity

release process; however, they are only applicable if

all information provided by the parties to the

transaction is valid and the Replacement Shipper (or

Subreplacement Shipper, if applicable) has been

determined to be creditworthy before the Qualified Bid

is tendered, and there are no special terms or

conditions of the release.

(c) Following is a summary of the capacity release process

and deadlines set forth in greater detail in the

remainder of this Section 16:

NAESB Standard 5.3.2 (Version 1.5) states:

For biddable releases (1 Year or less):

- offers should be tendered by 12:00 p.m. on a

Business Day;

- open season ends no later than 1:00 p.m. on a

Business Day (evaluation period begins at 1:00 p.m.

during which contingency is eliminated,

determination of best bid is made, and ties are

broken);

- evaluation period ends and award posting if no

match required at 2:00 p.m.;

- match or award is communicated by 2:00 p.m.;