Stingray Pipeline Company

Third Revised Volume No. 1

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Effective Date: 10/01/2002, Docket: RP02-469-000, Status: Effective

Fourth Revised Sheet No. 148 Fourth Revised Sheet No. 148 : Effective

Superseding: Sub Third 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 (less than 1 year):

 

- 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.;

- match response by 2:30 p.m.;

- where match required, award posting by

3:00 p.m.;

- contract issued within one hour of award

posting (with a new contract number, when

applicable); nomination possible beginning

at the next available nomination cycle for

the effective date of the contract.

(Central Clock Time)