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A Delivery Committee panel (the “Committee”) which has been reviewing the conditions at the Henry Hub relating to NYMEX Natural Gas (NG) delivery obligations for August and September 2008 convened today, Wednesday, September 3, 2008. The Committee notes that in prior Notices that a Force Majeure determination was made by the Committee in light of the circumstances at the Henry Hub, as well as Sabine’s Force Majeure declaration that became effective at 6:00 AM CST Sunday August 31, 2008.
The Committee further considered Sabine’s September 2, 2008 notice that Sabine’s Force Majeure declaration was lifted on a significant number of receipt and delivery points and that Sabine would be accepting nominations for the intra-day 2 cycle for gas flow beginning at 9:00 PM September 2, 2008 but maintained its position of Force Majeure relative to the NYMEX commitments in light of non-material confirmations and flows at Henry Hub for gas day September 3, 2008.
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