08/29/2005
Sabine Pipeline, the operator of the Henry Hub facility, has reported that as of mid-afternoon today, the Hub is fully operational. Sabine Pipeline is confirming nominations at all previously-nominated interconnections at normal rates of flow, and that their prior Force Majeure notice has been recently lifted. In light of these developments, the Committee recommends the following related to the August 2005 Natural Gas deliveries. Consistent with its powers cited in NYMEX Rule 220.18 Section (C)(6), which was referenced earlier today, all participants are to immediately resume nominations/deliveries related to any remaining NYMEX obligations for August 2005 deliveries.
Due to the Force Majeure declaration associated with the interruption of services at the Henry Hub which commenced on Sunday at approximately 5:00 PM Central Time, the delivery period for the August 2005 NYMEX Natural Gas Contract will be extended for one additional day, through September 1, 2005. All other contract terms are intact and unmodified. Further, all September deliveries are to be conducted in compliance with standard NYMEX terms.
Lastly, consistent with the prior notice, ADPs may be conducted in the August 2005 Contract pursuant to NYMEX Rule 220.17A.