<PAGE>   1
                                                                   EXHIBIT 10.55

                                                       SERVICE PACKAGE NO. 24706
                                                                 AMENDMENT NO. 0

                          GAS TRANSPORTATION AGREEMENT
                       (For Use Under FT-A Rate Schedule)

THIS AGREEMENT is made and entered into as of the 1st day of November, 2000, by
and between TENNESSEE GAS PIPELINE COMPANY, a Delaware Corporation, hereinafter
referred to as "Transporter" and PIEDMONT NATURAL GAS COMPANY INC, a NORTH
CAROLINA Corporation, hereinafter referred to as "Shipper." Transporter and
Shipper shall collectively be referred to herein as the "Parties."


                                    ARTICLE I

                                   DEFINITIONS

1.1      TRANSPORTATION QUANTITY (TQ) - shall mean the maximum daily quantity of
         gas which Transporter agrees to receive and transport on a firm basis,
         subject to Article II herein, for the account of Shipper hereunder on
         each day during each year during the term hereof, which shall be 55,900
         dekatherms. Any limitations of the quantities to be received from each
         Point of Receipt and/or delivered to each Point of Delivery shall be as
         specified on Exhibit "A" attached hereto.

1.2      EQUIVALENT QUANTITY - shall be as defined in Article I of the General
         Terms and Conditions of Transporter's FERC Gas Tariff

                                   ARTICLE II

                                 TRANSPORTATION

Transportation Service - Transporter agrees to accept and receive daily on a
firm basis, at the Point(s) of Receipt from Shipper or for Shipper's account
such quantity of gas as Shipper makes available up to the Transportation
Quantity, and to deliver to or for the account of Shipper to the Point(s) of
Delivery an Equivalent Quantity of gas.

                                   ARTICLE III

                        POINT(S) OF RECEIPT AND DELIVERY

The Primary Point(s) of Receipt and Delivery shall be those points specified on
Exhibit "A" attached hereto

                                   ARTICLE IV

All facilities are in place to render the service provided for in this
Agreement.


<PAGE>   2

                                                       SERVICE PACKAGE NO. 24706
                                                                 AMENDMENT NO. 0

                          GAS TRANSPORTATION AGREEMENT
                       (For Use Under FT-A Rate Schedule)

                                    ARTICLE V

              QUALITY SPECIFICATIONS AND STANDARDS FOR MEASUREMENT

For all gas received, transported and delivered hereunder the Parties agree to
the Quality Specifications and Standards for Measurement as specified in the
General Terms and Conditions of Transporter's FERC Gas Tariff Volume No. 1. To
the extent that no new measurement facilities are installed to provide service
hereunder, measurement operations will continue in the manner in which they have
previously been handled. In the event that such facilities are not operated by
Transporter or a downstream pipeline, then responsibility for operations shall
be deemed to be Shipper's.


                                   ARTICLE VI

                    RATES AND CHARGES FOR GAS TRANSPORTATION

6.1      TRANSPORTATION RATES - Commencing upon the effective date hereof, the
         rates, charges, and surcharges to be paid by Shipper to Transporter for
         the transportation service provided herein shall be in accordance with
         Transporter's Rate Schedule FT-A and the General Terms and conditions
         of Transporter's FERC Gas Tariff.

6.2      INCIDENTAL CHARGES-Shipper agrees to reimburse Transporter for any
         filing or similar fees, which have not been previously paid for by
         Shipper, which Transporter incurs in rendering service hereunder.

6.3      CHANGES IN RATES AND CHARGES - Shipper agrees that Transporter shall
         have the unilateral right to file with the appropriate regulatory
         authority and make effective changes in (a) the rates and charges
         applicable to service pursuant to Transporter's Rate Schedule FT-A, (b)
         the rate schedule(s) pursuant to which service hereunder is rendered,
         or (c) any provision of the General Terms and Conditions applicable to
         those rate schedules. Transporter agrees that Shipper may protest or
         contest the aforementioned filings, or may seek authorization from duly
         constituted regulatory authorities for such adjustment of Transporter's
         existing FERC Gas Tariff as may be found necessary to assure
         Transporter just and reasonable rates.

                                   ARTICLE VII

                              BILLINGS AND PAYMENTS

Transporter shall bill and Shipper shall pay all rates and charges in accordance
with Articles V and VI, respectively, of the General Terms and Conditions of the
FERC Gas Tariff.


                                       2
<PAGE>   3

                                                       SERVICE PACKAGE NO. 24706
                                                                 AMENDMENT NO. 0

                          GAS TRANSPORTATION AGREEMENT
                       (For Use Under FT-A Rate Schedule)


                                  ARTICLE VIII

                          GENERAL TERMS AND CONDITIONS

This Agreement shall be subject to the effective provisions of Transporter's
Rate Schedule FT-A and to the General Terms and Conditions incorporated therein,
as the same may be changed or superseded from time to time in accordance with
the rules and regulations of the FERC.

                                   ARTICLE IX

                                   REGULATION

9.1      This Agreement shall be subject to all applicable and lawful
         governmental statutes, orders, rules and regulations and is contingent
         upon the receipt and continuation of all necessary regulatory approvals
         or authorizations upon terms acceptable to Transporter. This Agreement
         shall be void and of no force and effect it any necessary regulatory
         approval is not so obtained or continued. All Parties hereto shall
         cooperate to obtain or continue all necessary approvals or
         authorizations, but no Party shall be liable to any other Party for
         failure to obtain or continue such approvals or authorizations.

9.2      The transportation service described herein shall be provided subject
         to Subpart G, Part 284, of the FERC Regulations

                                    ARTICLE X

                      RESPONSIBILITY DURING TRANSPORTATION

Except as herein specified, the responsibility for gas during transportation
shall be as stated in the General Terms and Conditions of Transporter's FERC Gas
Tariff Volume No. 1.

                                   ARTICLE XI

                                   WARRANTIES

11.1     In addition to the warranties set forth in Article IX of the General
         Terms and Conditions of Transporter's FERC Gas Tariff, Shipper warrants
         the following

         (a)      Shipper warrants that all upstream and downstream
                  transportation arrangements are in place, or will be in place
                  as of the requested effective date of service, and that it has
                  advised the upstream and downstream transporters of the
                  receipt and delivery points under this Agreement and any
                  quantity limitations for each


                                       3
<PAGE>   4

                                                       SERVICE PACKAGE NO. 24706
                                                                 AMENDMENT NO. 0

                          GAS TRANSPORTATION AGREEMENT
                       (For Use Under FT-A Rate Schedule)

                  point as specified on Exhibit "A" attached hereto. Shipper
                  agrees to indemnify and hold Transporter harmless for refusal
                  to transport gas hereunder in the event any upstream or
                  downstream transporter fails to receive or deliver gas as
                  contemplated by this Agreement.

         (b)      shipper agrees to indemnify and hold Transporter harmless from
                  all suits, actions, debts, accounts, damages, costs, losses
                  and expenses (including reasonable attorneys fees) arising
                  from or out of breach of any warranty by Shipper herein

11.2     Transporter shall not be obligated to provide or continue service
         hereunder in the event of any breach of warranty by shipper.

                                   ARTICLE XII

                                      TERM

12.1     This Agreement shall be effective as of the 1st day of November, 2000,
         and shall remain in force and effect until the 31st day of October,
         2005, ("Primary Term") and on a month to month basis thereafter unless
         terminated by either Party upon at least thirty (30) days prior written
         notice to the other Party; provided, however, that if the Primary Term
         is one year or more, then unless Shipper elects upon one year's prior
         written notice to Transporter to request a lesser extension term, the
         Agreement shall automatically extend upon the expiration of the Primary
         Term for a term of five years and shall automatically extend for
         successive five year terms thereafter unless Shipper provides notice
         described above in advance of the expiration of a succeeding term;
         provided further, if the FERC or other governmental body having
         jurisdiction over the service rendered pursuant to this Agreement
         authorizes abandonment of such service, this Agreement shall terminate
         on the abandonment date permitted by the FERC or such other
         governmental body.

12.2     Any portions of this Agreement necessary to resolve or cash out
         imbalances under this Agreement as required by the General Terms and
         conditions of Transporter's Tariff, shall survive the other parts of
         this Agreement until such time as such balancing has been accomplished;
         provided, however, that Transporter notifies Shipper of such imbalance
         not later than twelve months after the termination of this Agreement.

12.3     This Agreement will terminate automatically upon written notice from
         Transporter in the event Shipper fails to pay all of the amount of any
         bill for service rendered by Transporter hereunder in accord with the
         terms and conditions of Article VI of the General Terms and Conditions
         of Transporter's FERC Gas Tariff.



                                       4
<PAGE>   5

                                                       SERVICE PACKAGE NO. 24706
                                                                 AMENDMENT NO. 0

                          GAS TRANSPORTATION AGREEMENT
                       (For Use Under FT-A Rate Schedule)

                                  ARTICLE XIII

                                     NOTICE

Except as otherwise provided in the General Terms and Conditions applicable to
this Agreement, any notice under this Agreement shall be in writing and mailed
to the post office address of the Party intended to receive the same, as
follows;

TRANSPORTER:         TENNESSEE GAS PIPELINE COMPANY
                     P.O. Box 2511
                     Houston, Texas 77252-2511

                     Attention:     Director - Transportation Control

SHIPPER:

      NOTICES:       PIEDMONT NATURAL GAS COMPANY INC
                     1915 REXFORD ROAD
                     CHARLOTTE, NC 28211

                     Attention:     Director - Federal Regulatory
                                      and Supply Planning

      BILLING:       PIEDMONT NATURAL GAS COMPANY INC
                     1915 REXFORD ROAD
                     CHARLOTTE, NC 28211

                     Attention:     Director - Gas Accounting

or to such other address as either Party shall designate by formal written
notice to the other.

                                      ARTICLE XIV

                                      ASSIGNMENTS

14.1     Either Party may assign or pledge this Agreement and all rights and
         obligations hereunder under the provisions of any mortgage, deed of
         trust, indenture, or other instrument which it has executed or may
         execute hereafter as security for indebtedness. Either Party may,
         without relieving itself of its obligation under this Agreement, assign
         any of its rights hereunder to a company with which it is affiliated.
         Otherwise, Shipper shall not assign this Agreement or any of its rights
         hereunder, except in accord with Article III, Section 11 of the General
         Terms and Conditions of Transporter's FERC Gas Tariff.

14.2     Any person which shall succeed by purchase, merger, or consolidation to
         the properties, substantially as an entirety, of either Party hereto
         shall be entitled to the rights and shall be subject to the obligations
         of its predecessor in interest under this Agreement.



                                       5
<PAGE>   6

                                                       SERVICE PACKAGE NO. 24706
                                                                 AMENDMENT NO. 0

                          GAS TRANSPORTATION AGREEMENT
                       (For Use Under FT-A Rate Schedule)


                                   ARTICLE XV

                                  MISCELLANEOUS

15.1     THE INTERPRETATION AND PERFORMANCE OF THIS CONTRACT SHALL BE IN
         ACCORDANCE WITH AND CONTROLLED BY THE LAWS OF THE STATE OF TEXAS,
         WITHOUT REGARD TO THE DOCTRINES GOVERNING CHOICE OF LAW.

15.2     If any provision of this Agreement is declared null and void, or
         voidable, by a court of competent jurisdiction, then that provision
         will be considered severable at either Party's option; and if the
         severability option is exercised, the remaining provisions of the
         Agreement shall remain in full force and effect.

15.3     Unless otherwise expressly provided in this Agreement or Transporter's
         Gas Tariff, no modification of or supplement to the terms and
         provisions stated in this agreement shall be or become effective until
         Shipper has submitted a request for change through the Electronic
         Bulletin Board and Shipper has been notified through the Electronic
         Bulletin Board of Transporter's agreement to such change.

15.4     Exhibit "A" attached hereto is incorporated herein by reference and
         made a part hereof for all purposes.

IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly
executed as of the date first hereinabove written.

      TENNESSEE GAS PIPELINE COMPANY

      BY:  /s/ J. P. Dickerson
           -----------------------------------
               J.P. Dickerson
           Agent and Attorney-in-Fact

      DATE:     8/12/98
           -----------------------------------

      PIEDMONT NATURAL GAS COMPANY INC


      BY:  /s/ C. W. Fleenor
           -----------------------------------

      TITLE:       VP
           -----------------------------------

      DATE:     8/13/98
           -----------------------------------



                                       6
<PAGE>   7

                          GAS TRANSPORTATION AGREEMENT
                       (For Use Under FT-A Rate Schedule)

                                   EXHIBIT "A"
                  AMENDMENT #0 TO GAS TRANSPORTATION AGREEMENT
                             DATED November 1, 2000
                                     BETWEEN
                         TENNESSEE GAS PIPELINE COMPANY
                                       AND
                        PIEDMONT NATURAL GAS COMPANY INC


PIEDMONT NATURAL GAS COMPANY INC
EFFECTIVE DATE OF AMENDMENT: November 1, 2000
RATE SCHEDULE: FT-A
SERVICE PACKAGE: 24706
SERVICE PACKAGE TQ: 55,900 Dth


<TABLE>
<CAPTION>
METER   METER NAME                        INTERCONNECT PARTY NAME          COUNTY      ST  ZONE  R/D  LEG  METER-TQ  BILLABLE-TQ
--------------------------------------------------------------------------------------------------------------------------------
<S>     <C>                               <C>                              <C>         <C>  <C>  <C>  <C>   <C>        <C>

070020  TGP - PORTLAND STORAGE WITHDRA    TENNESSEE GAS PIPELINE COMPANY   SUMNER      TN   01    R   100    6,085      6,085
070025  TGP - PORTLAND STORAGE W/DRAWAL                                    SUMNER      TN   01    R   100   49,815     49,815

                                                                           Total Receipt TQ:                55,900     55,900

020312  NASHVILLE-NASHVILLE 2 TENN        PIEDMONT NATURAL GAS COMPANY I   ROBERTSON   TN   01    D   500   55,900     55,900
</TABLE>


NUMBER OF RECEIPT POINTS AFFECTED: 2
NUMBER OF DELIVERY POINTS AFFECTED: 1


NOTE: EXHIBIT "A" IS A REFLECTION OF THE CONTRACT AND ALL AMENDMENTS AS OF THE
      AMENDMENT EFFECTIVE DATE.