TRANS ADRIATIC PIPELINE NETWORK CODE

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TRANS ADRIATIC PIPELINENETWORK CODE10 AUGUST 20200086072-0000001 UKO1: 2000813368.3

.16.17.18.19.20.21.22.23.PageIntroduction . 1Definitions . 2Registered Parties . 21Credit Limits. 25Capacity Products . 29Capacity Booking . 31Secondary Market. 35Nominations . 40Matching and Confirmations . 45Balancing and Allocation . 48Planned Maintenance. 52Capacity Reductions . 55Congestion Management . 59Fuel Gas . 65Electric Power . 69UFG . 72Metering . 75Redistribution . 79Invoicing . 82Suspension . 85Communications . 86Revision . 88Governing Law and Dispute Resolution . 93Appendix1.2.3.4.The TAP Transportation System . 94Part 1System Description . 94Part 2Metering Equipment . 95Interconnection Points . 97Registration Form . 99Natural Gas Specifications . 1070086072-0000001 UKO1: 2000813368.3

1.INTRODUCTION1.1IntroductionThis Network Code relates to the TAP Transportation System, contains the rules and procedures for theoperation of the TAP Transportation System and details the rights and obligations of the Transporter,Registered Parties and Shippers in respect of the booking and use of Capacity Products. This NetworkCode applies to all Registered Parties and Shippers and is an integral part of each Gas TransportationAgreement.1.2Background to the TAP Transportation SystemThe Transporter has obtained an exemption from provisions on third party access, regulated tariff andownership unbundling, subject to the terms of the Final Joint Opinion of the Energy Regulators on TAPAG's Exemption Application dated 6 June 2013, granted by the NRAs pursuant to Directive2009/73/EC. The NRAs have subsequently approved the Transporter’s tariff methodology,incorporated in the Gas Transportation Agreement as schedule 5 of the General Terms and Conditions,and, as required by section 4.1.3 of the Final Joint Opinion, a legal process approved by the NRAs forthe allocation and reallocation of initial capacity (the Initial Capacity Allocation Mechanism).Reserved Capacity has already been made available in accordance with the Initial Capacity AllocationMechanism and in the first Market Test, conducted prior to the start of construction of the pipeline. TheTransporter will, for the whole 25 year duration of the exemption, make an amount of the technicalcapacity at each Entry Point and Exit Point available for products with duration of up to one year inaccordance with the terms of the Final Joint Opinion.The capacity in the TAP Transportation System can be expanded up to a total capacity of 20 bcmathrough pre-defined incremental steps. The Transporter will offer this Expansion Capacity to the marketby means of Market Tests, to be conducted on a bi-annual basis. The rules and procedures by whichShippers or Registered Parties can request Expansion Capacity are set out in Section 6.9.1.3Operations Code and Final Joint OpinionThis Network Code:(a)constitutes the "Operations Code" as referred to in the Gas Transportation Agreements enteredinto by the Transporter prior to the date this Network Code is published; and(b)is the "TAP Network Code" referred to in section 4.7.1 of the Final Joint Opinion.0086072-0000001 UKO1: 2000813368.31

2.DEFINITIONS2.1DefinitionsAccepting Party means a Registered Party that has accepted a Transfer of Reserved Capacity.Active Shipper means, in respect of Single-Sided Nominations, the Shipper who sends a nominationas determined in accordance with Section 8.1.Active TSO means, in respect of Single-Sided Nominations, the TSO who receives a nomination fromthe Active Shipper in accordance with Section 8.1.Actual Electric Power Cost has the meaning given to it in Section 15.4.Actual Monthly Charge means, in respect of a particular Shipper, the "Actual Monthly Charge"calculated for specific Reserved Capacity in accordance with the relevant Gas TransportationAgreement.Adjacent TSO means a TSO operating an Interconnected System.Affiliate has the meaning given to it in the General Terms and Conditions.Allocated Quantities means the quantity of Natural Gas allocated to a Shipper in respect of the deliveryby or redelivery to (as applicable) that Shipper at an Interconnection Point or the Virtual Trading Pointfor a Gas Day, expressed in kWh. Allocated Quantities at Entry Points or for trades where gas isreceived at the Virtual Trading Point will be expressed as a positive number and Allocated Quantitiesat Exit Points or for trades where gas is delivered at the Virtual Trading Point will be expressed asnegative numbers.Alternative Credit Support Capacity means any of:(a)a Capacity Product booked before the Initial Effective Date; or(b)a Capacity Product booked as part of a Market Test,and in each case includes such Reserved Capacity where it has been subject to an Assignment.Annual Statement means the statement to be sent to Registered Parties in March in each Gas Year inaccordance with Section 19.2.Application Documents has the meaning given to it in Section 3.1(b).Approved Credit Rating Agency means S&P, Moody's, Fitch or another credit rating agency (if any)that is included in a list, which may be published on the Transporter's website and updated from timeto time, of credit rating agencies that are, in the sole discretion of the Transporter, acceptable to theTransporter for the purposes of assigning a Credit Limit to Registered Parties.Assigned Capacity means any Reserved Capacity (or part thereof) that is subject to an Assignment.Assignment means a transfer by a Shipper of all or a part of its Reserved Capacity to another RegisteredParty, which is effected by way of an assignment of all of its rights to that Reserved Capacity (or partthereof), and an assumption of all of the related obligations by, that Registered Party under the relevantGas Transportation Agreement. An Assignment of part of the Reserved Capacity under a GasTransportation Agreement may consist of (a) an assignment of some but not all of the ReservedCapacity for each Gas Day, (b) an assignment of all of the Reserved Capacity during a specified periodof time only, or (c) a combination of the above.0086072-0000001 UKO1: 2000813368.32

Assignment Form means a form to be submitted by an Offering Shipper and a Registered Party whowish to trade the rights and obligations to Reserved Capacity by way of an Assignment, which formwill be made available by the Transporter on its website.Auction Premium means any premium above the Reserve Price that results from an auction of anyCapacity Product.Available Capacity means, in relation to a particular Interconnection Point in a particular directionover a particular time period, the capacity to transport Natural Gas that can be made available by theTransporter to Registered Parties to purchase as Capacity Products over that period because it has notbeen booked as Reserved Capacity or because it has been released for booking as Surrendered Capacityor Withdrawn Capacity. To ensure alignment with Adjacent TSOs, the Transporter will exclude theminimum requirement for short term products under section 4.1.10 of the Final Joint Opinion whendetermining the Available Capacity for Forward Firm Yearly Capacity and for Commercial ReverseYearly Capacity with capacity at an Interconnection Point with a Forward IP Direction.Available Credit means in respect of a Registered Party, an amount in Euro that represents the furtherIndebtedness that it can assume, calculated in accordance with Section 4.4.Average Utilisation has the meaning given to it in Section 13.3.Balanced means, in respect of a particular Shipper and its Nominated Quantities and Traded Quantities(or, following the end of a Matching Process, its Provisional Quantities) for a particular Gas Day that:(a)in respect of Forward Capacity:(i)the aggregate of all Nominated Quantities (or, if applicable Provisional Quantities) forForward Capacity for delivery by that Shipper at Entry Points and the aggregate TradedQuantities (or, if applicable Provisional Quantities) to be received by that Shipper fromanother Shipper at the Virtual Trading Point, in each case on that Gas Day;is equal to:(ii)(b)the absolute value of the aggregate of all Nominated Quantities (or, if applicableProvisional Quantities) for Forward Capacity for re-delivery to that Shipper at ExitPoints and the aggregate Traded Quantities (or, if applicable Provisional Quantities) tobe transferred from that Shipper to another Shipper at the Virtual Trading Point, in eachcase on that Gas Day; andin respect of Commercial Reverse Capacity:(i)the aggregate of all Nominated Quantities (or, if applicable Provisional Quantities) forCommercial Reverse Capacity for delivery by that Shipper at Entry Points on that GasDay;is equal to:(ii)the absolute value of the aggregate of all Nominated Quantities (or, if applicableProvisional Quantities) for Commercial Reverse Capacity for re-delivery to thatShipper at Exit Points on that Gas Day.Bundled Capacity means a Capacity Product for Forward Firm Capacity that, when offered toRegistered Parties, is offered as a combination of both entry and exit capacity at a particularInterconnection Point in each of the TAP Transportation System and the relevant InterconnectedSystem.0086072-0000001 UKO1: 2000813368.33

Business Day means any Day (other than a Saturday, Sunday or public holiday) on which banks in theCanton of Zug are generally open for business.Calibration has the meaning given to it in the International Vocabulary of Metrology – Basic andGeneral Concepts and Associated Terms (VIM 3rd edition) - JCGM 200:2012 and the terms Calibrateand Calibrated will have equivalent meanings.CAM Network Code means EU Regulation (EC) 2017/459.Capacity Booking Platform means the internet platform for the booking and trading of CapacityProducts that has been selected by the Transporter to be used at each Interconnection Point, which atthe Initial Effective Date, is intended to be provided by PRISMA European Capacity Platform GmbH.Capacity Products means each of the products for the transportation of Natural Gas in the TAPTransportation System that are offered for purchase by Registered Parties from the Transporter,consisting of each of the different products that constitute Forward Firm Capacity, ForwardInterruptible Capacity and Commercial Reverse Capacity.Capacity Restriction means the occurrence of any event, except for Planned Maintenance, whichreduces the ability of the Transporter to provide Reserved Capacity at an Interconnection Point.Capacity Restriction Notice means a notice of the occurrence of a Capacity Restriction that requiresReserved Capacity to be reduced by the Transporter at an Interconnection Point and which specifies:(a)the date and time at which the Capacity Restriction begins;(b)the date and time (rounded to the nearest hour) at which the Transporter expects the CapacityRestriction to end;(c)the affected Interconnection Point;(d)the cause of the Capacity Restriction; and(e)the remaining Forward Firm Capacity that the Transporter can make available at thatInterconnection Point.Capacity Restriction Termination Notice means a notice that is sent to all Registered Parties, toinform Registered Parties that a Capacity Restriction that required Forward Firm Capacity to be reducedby the Transporter at an Interconnection Point has terminated and which specifies:(a)the time and date at which each Shipper's full Reserved Capacity at that Interconnection Pointwill be made available to it; and(b)any other information that the Transporter believes is necessary regarding the removal of thatCapacity Restriction.Cash Collateral Account means a Euro-denominated account with a reputable financial institutionwhich is subject to an escrow or security deposit arrangement satisfactory to the Transporter that permitsthe balance standing to the credit of such account to be applied in payment of amounts outstanding fromthe relevant Registered Party to the Transporter (and for no other purpose). The escrow or securitydeposit arrangement will provide that any interest or fees applying to that account will be credited to ordebited from that account.CET means Central European Time which is one hour ahead of UTC.0086072-0000001 UKO1: 2000813368.34

CEST means Central European Summer Time which is one hour ahead of CET and two hours aheadof UTC.Commercial Operations Date means the Gas Day that the Transporter notifies to each RegisteredParty (as at the date of that notification) as being the date on which it is ready to commence commercialoperation of the TAP Transportation System and which thereafter will be published on the Transporter'swebsite.Commercial Reverse IP Direction means, in respect of any Interconnection Point, the direction offlow of Natural Gas that is the opposite to the Forward IP Direction and is the direction in which theTransporter intends to provide virtual (but not physical) reverse flow Transportation Services at certainInterconnection Points.Commercial Reverse Capacity means transportation capacity in the TAP Transportation System forthe Eastward (Commercial) Flow transportation of Natural Gas that is made available to Shippers undera Gas Transportation Agreement at a particular Interconnection Point and that Transporter is permittedto interrupt in accordance with Section 12.4. Commercial Reverse Capacity at a particularInterconnection Point can be in the Forward IP Direction or in the Commercial Reverse IP Directionbut must result in an overall Eastward (Commercial) Flow. Commercial Reverse Capacity consists of:(a)Commercial Reverse Yearly Capacity;(b)Commercial Reverse Quarterly Capacity;(c)Commercial Reverse Monthly Capacity; and(d)Commercial Reverse Daily Capacity.Commercial Reverse Daily Capacity means Commercial Reverse Capacity made available on a DayAhead basis.Commercial Reverse Monthly Capacity means Commercial Reverse Capacity made available onevery Gas Day in a particular Gas Month.Commercial Reverse Quarterly Capacity means Commercial Reverse Capacity made available onevery Gas Day in a particular Gas Quarter.Commercial Reverse Route means each combination of an Entry Point and an Exit Point forCommercial Reverse Capacity that is permitted in accordance with Table B in Appendix 2.Commercial Reverse Yearly Capacity means Commercial Reverse Capacity made available on everyGas Day in a particular Gas Year.Compressor Station means a facility that forms part of the TAP Transportation System that has thepurpose of compressing the Natural Gas in the TAP Transportation System to assist the flow of thatNatural Gas.Confidentiality Agreement means a confidentiality agreement to be entered into by a Person who isapplying to be a Registered Party and which will govern the treatment of confidential information inrespect of the application process and, if successful, that Person's relationship with the Transporter as aRegistered Party. The most recent form of confidentiality agreement will be published by theTransporter on its website. A Confidentiality Agreement will not apply to information exchangedpursuant to a Gas Transportation Agreement, to which the terms of the relevant Gas TransportationAgreement will apply.0086072-0000001 UKO1: 2000813368.35

Confirmed Quantities means the quantity of Natural Gas to be delivered by or redelivered to aparticular Shipper at a particular Interconnection Point or the Virtual Trading Point after the end of allthe Matching Processes expressed in kWh per Gas Day. Confirmed Quantities at Entry Points will beexpressed as a positive number and Confirmed Quantities at Exit Points will be expressed as negativenumbers.Confirmed Quantity Notice means a notice sent by the Transporter to each Shipper followingcalculation of the Confirmed Quantities setting out that Shipper's Confirmed Quantities at eachInterconnection Point.Congestion Notice has the meaning given to it in Section 13.4(a).Contractual Timestamp means the exact time at which a Shipper has contracted a Capacity Productwith the Transporter.Credit Limit means in relation to each Registered Party, the amount in Euro that represents themaximum Indebtedness that it can assume, as determined under Section 4.3.Credit Limit Criteria has the meaning given to it in Section 4.1(b).Credit Limit Criterion means an individual element of the Credit Limit Criteria.Credi

Code applies to all Registered Parties and Shippers and is an integral part of each Gas Transportation Agreement. 1.2 Background to the TAP Transportation System ... Mechanism and in the first Market Test, conducted prior to the start of construction of the pipeline. The Transporter will, for the whole 25 year duration of the exemption, make an ...