Headed paper of the issuing bank GUARANTEE 2

WORDING OF BANK GUARANTEE TO BE ISSUED TO THE BENEFICIARY

(on headed paper of the issuing bank)

Whereas:

- The Company …(SHIPPER)… with registered office at ……………………………. Tax Code ………………….. VAT No. ……………………………….. has been allocated by Snam Rete Gas S.p.A., following a booking request and upon completion of the appropriate process, natural gas transportation capacity for the thermal year … /…. and/or for the period between the thermal year …/… and the thermal year …../..…;

- For the purpose of signing the Transportation Contract with ….(SHIPPER)…., Snam Rete Gas S.p.A. has requested, in accordance with the provisions of the Network Code, the issue in its favour of a first demand bank guarantee equal to 3% of the maximum annual charge for National Network and Regional Network capacity to cover the obligations arising from provision of the transportation service, consisting of payment of the charges set forth in the Transportation Contract signed with Snam Rete Gas S.p.A., including the charges pursuant to Chapter 9, paragraph 7.3 and Chapter 18, paragraphs 4.1.4 and 4.3.3, as set forth in paragraph 1.1.3 of Chapter 5 of the Snam Rete Gas Network Code and, only in cases of early termination of the Contract, to cover the obligations arising from the balancing service pursuant to Chapter 19, paragraph 3.3.

Now therefore,

1) The undersigned …………….(BANK)……………. with registered office at ……………………..……………… and providing address for service for the purpose of this document at ……………………..………………, irrevocably undertakes to immediately pay Snam Rete Gas S.p.A., upon written request and without the need to provide any proof or reason, without exception, and without the need for prior communication, formal notice, placing in default or request to the company ……………. (SHIPPER)……………., all the amounts that Snam Rete Gas S.p.A. may request for the purpose stated above up to the amount of EUR …………….. (EUR ………………………………/….).

2) The guarantee may be enforced on one or more occasions, until the maximum amount set forth in the previous point has been exhausted.

3) The undersigned ……………. (BANK) ……………., declares that the provisions set forth in Articles 1955 and 1957 of the Italian Civil Code do not apply to this guarantee and that in any case it waives exercise thereof.

4) This guarantee secures the performance of all the obligations undertaken by .....(SHIPPER)… pursuant to the Transportation Contract signed with Snam Rete Gas S.p.A, on ……….. and accrued from said date, both by way of consideration and by way of compensation or indemnity, and its validity shall commence from the issue date and terminate upon the expiry of the sixth month after the end of the Thermal Year …../….., and therefore on 31st March 20…..

5) Any disputes concerning the interpretation, validity, effectiveness and enforcement of this guarantee shall be subject to the exclusive jurisdiction of the Court of Milan.

Date and place STAMP AND SIGNATURE

Pursuant to and for the purposes of Article 1341 of the Italian Civil Code the following points are specifically approved: 1) payment on demand and waiver of objections, 2) enforcement procedures, 3) waiver of exercise of the provisions of Articles 1955 and 1957 of the Italian Civil Code, 4) validity of the guarantee, 5) Jurisdiction.

Date and place STAMP AND SIGNATURE