Regasification Code
                                                                            Invoicing and Payment
            INVOICING AND PAYMENT
            1)     INTRODUCTION                 2
            2)     INVOICE TYPES                2
            3)     CONTENT OF INVOICES                        3
              3.1)   INVOICES FOR THE CORE REGASIFICATION SERVICE AND OTHER SERVICES..............................3
              3.2)   OTHER INVOICE TYPES................................................................................................3
            4)     GENERAL INVOICE ISSUE AND PAYMENT TERMS                                        3
              4.1)   ISSUE OF INVOICES.....................................................................................................3
              4.2)   PAYMENT OF INVOICES................................................................................................4
                 4.2.1)  Late payment interest...................................................................................4
              4.3)   MANIFEST ERRORS....................................................................................................4
              4.4)   INVOICES FOR CONSUMPTION AND LOSSES.....................................................................4
            5)     DISPUTES              4
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            1)    INTRODUCTION
                  Once it has all the relevant data, GNL Italia issues invoices both for the fees
                  for the core regasification service and for other items, in accordance with
                  the provisions set out below.
                  In general, the list of invoices issued by GNL Italia, pursuant to this
                  document can be divided between invoices for the regasification service
                  itself and those that can be classified as "other invoice types".
            2)    INVOICE TYPES
                  The invoices issued by the Operator in relation to the services covered by
                  this Regasification Code include:
                  a) invoices for the core regasification service, in particular:
                     the access fee to the Core Regasification Service (regasification rate
                       Cqs i.e. the assignment charge determined on the basis of the outcome
                       of the auction procedures as set out in Chapter 5), and all other fees
                       relating to the regasification rate applied to the contractual LNG
                       volumes as published on GNL Italia's website. ;
                     the CETS  fee which covers the costs related to the Emission Trading
                       System, pursuant to article 24 of the RTRG, the C  fee which covers
                                                                                 CP
                       the   costs   associated   with   the   electricity   consumption   of   the
                       regasification chain system, referred to in article 23 of the RTRG, as
                       well as any other fee referred to the regasification tariff applied to the
                       unloaded LNG volumes, as published on the GNL Italia website;
                     the offer made within the allocated regasification capacity distribution
                       procedure as set out in Chapter 5. 
                     the fees applied for failure to comply with the LNG Delivery Schedule;
                     the imbalance charges
                     the fees due for any regasification capacity exchange with GNL Italia,
                       as referred to in Chapter 8, paragraph 2.
                  b) invoices for the Transport Service, in particular:
                     the fees for transport capacity at the Panigaglia Entry Point;
                  c) invoices for the Flexibility Services, in particular:
                     the fees for the Redelivery Flexibility Service;
                     the fees for the Temporary Storage Service.
                  d) invoices for other services, in particular:
                     fees for ancillary regasification services;
                     fees for optional services offered;
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                other amounts due under this document;
             e) other invoice types, such as those relating to the correction of errors on
               previous invoices, adjustments and interest for late payment. 
         3)  CONTENT OF INVOICES
         3.1) Invoices for the core regasification service and other services
             Each type a), b), c) and d) of invoice shall contain the following:
              the User’s identification data;
              the invoice number;
              the invoice type;
              the month which the invoice concerns;
              the rate code and the description of each item on the invoice;
              the monthly quantity, expressed in the relevant unit of measurement, of
               each item on the invoice;
              the monthly amount of each individual item on the invoice; 
              the total amount invoiced;
              the VAT for the fees invoiced, as applicable.
         3.2) Other invoice types
             Each type e) of invoice shall contain the following:
              the User’s identification data;
              the invoice number;
              the invoice type;
              the period which the invoice concerns;
              the references to invoices to be adjusted/corrected and the items to
               correct/adjust (or alternatively the interest rate applied);
              the amount owed by or receivable from the User;
              the VAT for the fees invoiced, as applicable.
         4)  GENERAL INVOICE ISSUE AND PAYMENT TERMS
         4.1) Issue of invoices
             The invoices described in sub-paragraphs (a), (b), (c) and (d) of paragraph 2
             above shall be issued in the month following the month which the fee
             concerns: invoices as set out in e) of paragraph 2 above, shall be issued by
             the Operator as soon as the information that allow their determination is
             available.
             All the invoices will be made available by the Operator through special web
             features. 
             GNL Italia will send any invoices not managed on IT systems by letter.
             The official date of the invoices in question is the issue date indicated
             thereon. 
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                  If the Terminal User has decided to share the quantities of regasified LNG
                  under the Regasification Agreement among one or more users of the
                  Transport service, according to the provisions of article 13 of the TIRG, the
                  Terminal Operator shall invoice that User both the amounts for the
                  Regasification Service and those for the transport service to the Panigaglia
                  Entry Point. 
            4.2) Payment of Invoices
                  The User must pay the invoices in question to the bank account indicated on
                  them within 30 (thirty) days of the invoice issue date. If the due date falls on
                  a Saturday, Sunday or on a public holiday, the User may pay the invoices on
                  the next working day. 
            4.2.1) Late payment interest
                  In the event of late payment of an invoice, the User must pay interest on the
                  amounts invoiced but not paid within the terms described in the foregoing
                  paragraph, for each day past due at the reference rate set by the European
                  Central   Bank   (as   published   in   the   “Ilsole24ore”   newspaper)   plus   8
                  percentage points, up to the maximum threshold rate set by Article 2(4) of
                  Law 108/1996, calculated on the basis of the TEGM rate on advance
                  payments and discounts for amounts exceeding € 100,000.
            4.3) Manifest Errors
                  Any printing and/or calculation errors in the amounts invoiced are generally
                  corrected before the payment is due and reflected by issuing an adjustment
                  invoice. If the correction cannot be made in time, the User shall pay the
                  amount agreed and deemed correct, if such amount is lower, and the
                  Operator shall issue a corresponding credit note; if the amount is higher, a
                  subsequent additional invoice shall be issued by the Operator. 
            4.4) Invoices for Consumption and Losses 
                  As regards gas consumption and losses related to the regasification service
                  covered by this document, the User shall issue a monthly invoice to the
                  Operator based on a conventional price for the transfer of gas, equal to the
                  C  component (determined by the Authority on a quarterly basis) on the
                   MEM
                  provisioning cost of natural gas on the wholesale markets. The Operator
                  shall charge back to the User the same amount of the previous invoice, by
                  means of an invoice. The operating procedures for the application of the
                  provisions of this paragraph shall be published on GNL Italia's website.
            5)    DISPUTES
                  If no dispute is raised by either Party, each invoice shall be considered final
                  after a period of 3 months from its issue date.
                  If a User disputes the amount invoiced, the User must however fully pay the
                  invoice in question. If the claim is founded, upon resolution of the dispute
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