(a) In General—In a matter related to a pipeline carrier providing transportation subject to jurisdiction under this chapter, the Board shall exempt a person, class of persons, or a transaction or service when the Board finds that the application, in whole or in part, of a provision of this part—
(b) Initiation of Proceeding.—
The Board may, where appropriate, begin a proceeding under this section on its own initiative or an interested party.
(c) Period of Exemption.—
The Board may specify the period of time during which an exemption granted under this section is effective.