The Commission may enter into an agreement with the Secretary of Transportation which authorizes the Commission to conduct inspections as an agent of the Federal Government to ensure compliance with federal statutes and regulations governing the safety of storage facilities and interstate pipelines which transport: 1. Petroleum or any petroleum product; 2. Any substance which is in a liquid state, including liquefied natural gas, when transported by pipeline or pipeline facilities and which may pose an unreasonable risk to life or property when transported by pipeline or pipeline facilities; or 3. Any gas, including natural gas, flammable gas or gas which is toxic or corrosive.
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