Panhandle Eastern Pipe Line Company

First Revised Volume No. 1

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Effective Date: 02/01/2002, Docket: RP00-395-003, Status: Effective

Fifth Revised Sheet No. 338A Fifth Revised Sheet No. 338A : Superseded

Superseding: Fourth Revised Sheet No. 338A

GENERAL TERMS AND CONDITIONS

(Continued)

the time the order is expected to remain in effect,

the action required of the Shipper, the reason for

issuing the order, together with operating

variables providing the basis for issuing the

order, and any other information which may be

required in the circumstances. Panhandle will post

notification and provide updated information

concerning the need for the order on the

Messenger system and the Web Site at the

commencement of the Day until Panhandle notifies

the Shipper that the order is no longer effective.

If Shipper does not adjust its injection or

withdrawal nominations as required by the order

from Panhandle, a penalty of $25 per Dt. shall

apply to the variance from the order until such

time as the Shipper complies with the order;

provided, however, in no event will this penalty

apply until Shipper has had at least two (2) hours

to take the actions required to comply with the

order. Within a reasonable time after the order

terminates, Panhandle will post on the Messenger

system and the Web Site a report detailing the

conditions that required the issuance and

termination of the order.

(c) For purposes of reporting Storage inventories for state ad

valorem taxes, the total inventories of Gas in Market Area

Storage Facilities and Field Area Storage Facilities in

any particular state shall be determined. Inventories in

Market Area Storage Facilities shall be allocated to all

Shippers with inventories under Rate Schedules PS, and, if

provided from Market Area Storage Facilities, WS, FS and

IWS, based on the ratio of total inventories for the state

divided by total Storage inventories for all states times

the Shipper's total Stored Volume under such Rate

Schedules; inventories in Field Area Storage Facilities

shall be allocated to all Shippers with inventories under

Rate Schedules IOS, IIOS and, if provided from Market Area

Storage Facilities, WS, FS and IWS, based on the ratio of

total Storage inventories for the state divided by total

Storage inventories for all states times the Shipper's

total Stored Volume under such Rate Schedules.