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North Baja Pipeline, LLC
FERC Gas Tariff
Original Volume No. 1

Second Revised Sheet No. 8
Superseding
First Revised Sheet No. 8

                   STATEMENT OF EFFECTIVE RATES AND CHARGES

             NEGOTIATED RATE AGREEMENTS UNDER RATE SCHEDULE FTS-1

                  Explanatory Footnotes for Negotiated Rates
                           Under Rate Schedule FTS-1

5/  The transportation rate under this Agreement is a negotiated rate 
    consisting of a monthly reservation fee equal to $0.1019 times 30.4 days 
    for each month, plus a delivery rate of $0.0031 per Dth, plus ACA.  
    Shipper shall reimburse Transporter for fuel, line loss, and other 
    unaccounted for gas in kind at a rate of 0.7%.  This rate shall be fixed 
    for the term of this Agreement.

    Rate Protection Provision:
    (1)  This provision applies only to gas that is delivered to NBP at 
         Ehrenberg, AZ.  To the extent NBP and Gasoducto Bajanorte ("GB") 
         separately provide long-term (greater than 364 days) firm 
         transportation service to a Third Party Shipper in the Western Zone 
         at a combined rate that is lower than $0.270 per Dth on a 100% load 
         factor basis (excluding non-pipeline surcharges), or in the Mexicali 
         Zone at a combined rate that is lower than $0.245 per Dth, then the 
         rate applicable to Shipper for service on NBP shall be reduced in 
         accordance with the following formula:

         NR = OR - ((CTR - TPR) x 0.4286)

         Where: NR = New Rate level at which Shipper will receive service on 
                      NBP.  Resulting unit rate will be converted to a 
                      reservation/delivery structure where the delivery rate 
                      will equal three (3) percent of the NR;
                OR = Shipper's negotiated Original Rate on NBP or $0.105 per 
                      Dth on a 100% load factor basis;
                CTR = Competitive Threshold Rate which is $0.270 per Dth for 
                      the Western Zone and $0.245 per Dth for the Mexicali 
                      Zone; and
                TPR = Third Party Rate for the combined NBP and GP path.

         The Western Zone is defined as 115 degrees, 41 minutes, 21 seconds 
         west longitude, west to the interconnection with Transportadora de 
         Gas Natural de Baja California;

         The Mexicali Zone is defined as 115 degrees, 41 minutes, 21 seconds, 
         east to 115 degrees, 11 minutes, 50 seconds west longitude;

         A Third Party Shipper is defined as a shipper that is either the 
         owner, operator, or fuel supplier to electric generation facilities, 
         or affiliates of NBP or GB.

                                                                  (Continued)

Issued by: John A Roscher, Director of Rates & Regulatory Affairs
Issued on: July 26, 2005                      Effective on: July 27, 2005
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