Stingray Pipeline Company

Third Revised Volume No. 1

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Effective Date: 12/01/1996, Docket: RP96-180-001, Status: Effective

Original Sheet No. 134B Original Sheet No. 134B : Effective

 

GENERAL TERMS AND CONDITIONS

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(c) The AMIP is the arithmetic average of the AWIPs.

The AWIPs are the monthly arithmetic average of the Weekly Index

Prices (WIP). The WIPs listed below are reported in 'Spot Gas Prices

Delivered to Pipelines' issued by "Natural Gas Intelligence" (NGI):

 

(1) South Louisiana, NGPL; and

 

(2) South Louisiana, LRC via Stingray.

 

In calculating the AMIP, the WIPs will be based on the prices

reported in the issue of NGI dated on or after Stingray's nomination

deadline for first of the month service for that month, and the

subsequent issues dated prior to Stingray's nomination deadline for

the following month's first of the month service.

 

(d) Following the ten (10) day period for offsetting

imbalances, Shippers with remaining imbalances shall pay Stingray or

will be credited with the appropriate cashout amounts.

 

(e) In the event NGI ceases to publish entirely or

fails to publish the index prices listed in subsection (c) above,

the following procedures shall apply in determining a month's AMIP:

 

(1) Should, in any given week, NGI fail to publish

one of the two index prices used in determining that week's WIP, the

WIP will be determined using the remaining published index price.

 

(2) Should, in any given week, NGI fail to publish

both of the index prices used in determining that week's WIP, there

will be no WIP for that week used in determining the month's AMIP.

 

(3) Should, in a given month, there be less than

two WIP's available for the AMIP calculation, the following

alternate AMIP procedures will apply: The AMIP will be defined as

the arithmetic average of:

 

(i) The closing price for the NYMEX natural

gas futures contract applicable to the month in which the imbalance

was created (i.e., the price at which that month's contract "went

off the board"); and

 

(ii) The individual daily closing prices for

the following month ("spot month" or "near month") NYMEX natural gas

contract during the month in which the imbalance was created, up to

and including the day the "spot month" contract "goes off the

board."