Garden Banks Gas Pipeline, LLC
Original Volume No. 1
Contents / Previous / Next / Main Tariff Index
Effective Date: 11/01/1999, Docket: RP00- 19-000, Status: Effective
First Revised Sheet No. 305 First Revised Sheet No. 305 : Effective
Superseding: Original Sheet No.305
FORM OF NGL BANK AGREEMENT
2.1 Natural Gas Liquids ("NGL") is a term that is sometimes used
to refer to liquefiable hydrocarbons that are present in the
vapor phase in natural gas streams and is sometimes used to refer
to hydrocarbons in a liquid state after extraction or
condensation from the gas stream, and shall, in either case,
include natural gasoline (pentane plus heavier hydrocarbons),
butanes, propane and ethane.
2.2 Production Point shall mean the producing field from which
natural gas is produced that is located upstream of Transporter's
2.3 Capitalized terms used but not defined herein shall have the
meanings ascribed to such terms in Transporter's Original Volume
No. 1 Gas Tariff.
Except as otherwise provided for in Article VIII herein, this
Agreement shall be effective as of the effective date of the TSA
between Transporter and Shipper, or June 1, 1998, whichever is
later, and shall remain in force and effect for the term of such
TSA. In the event that there is more than one (1) TSA between
Transporter and Shipper, the effective date of this Agreement
shall coincide with the earliest effective date of any of such
TSA's, or June 1, 1998, whichever is later and shall remain in
force and effect for a term to coincide with the latest of any of
such TSA's to expire.
4.1 Shipper agrees to (i) participate in the NGL Bank, either in
person or through its agent, with the relevant agency agreement
provided to Administrator prior to said agent's participation in
the NGL Bank on behalf of Shipper, (ii) make settlements in
accordance with the provisions of Article V of this Agreement,
and (iii) pay the Administrative Fees billed by Administrator to
Shipper, or its agent, for administration of the NGL Bank
pursuant to Article V of this Agreement. Designation of an agent
shall not relieve Shipper from any rights or responsibilities
arising from this Agreement.
4.2 The Administrator shall establish the GBGP NGL Bank Advisory
Group ("AG") to provide a forum to discuss and consider material
NGL Bank issues if, and when, they arise. Each shipper shall
appoint a single representative to serve on the AG.
Administrator will chair the AG, convene meetings as needed, and
retain third-party services as appropriate. Resolution of issues
brought forward to the AG will be by simple majority vote of the
respective representatives of the then shippers, with each
representative having a single vote.