SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* FARALLON PARTNERS L L C/CA (Last) (First) (Middle) C/O FARALLON CAPITAL MANAGEMENT, L.L.C. ONE MARITIME PLAZA, SUITE 1325 (Street) SAN FRANCISCO CA 94111 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol LINK ENERGY LLC [ LNKE ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) X Other (specify below) Member of Group Owning 10%
	3. Date of Earliest Transaction (Month/Day/Year) 01/02/2004
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Limited Liability Company Units	01/02/2004		J		71,989	A	(10)	589,101	D(1)(2)(3)
Limited Liability Company Units	01/02/2004		J		3,482	A	(10)	28,496	D(1)(2)(4)
Limited Liability Company Units								617,597	I	See footnotes(1)(2)(5)
Limited Liability Company Units	01/02/2004		J		170,877	A	(10)	1,398,317	D(1)(2)(6)
Limited Liability Company Units	01/02/2004		J		93,214	A	(10)	762,784	D(1)(2)(7)
Limited Liability Company Units								2,161,101	I	See footnotes(1)(2)(8)
Limited Liability Company Units								2,778,698	I	See footnotes(1)(2)(9)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* FARALLON PARTNERS L L C/CA (Last) (First) (Middle) C/O FARALLON CAPITAL MANAGEMENT, L.L.C. ONE MARITIME PLAZA, SUITE 1325 (Street) SAN FRANCISCO CA 94111 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) Member of Group Owning 10%

1. Name and Address of Reporting Person* FARALLON CAPITAL PARTNERS LP (Last) (First) (Middle) C/O FARALLON CAPITAL MANAGEMENT, L.L.C. ONE MARITIME PLAZA, SUITE 1325 (Street) SAN FRANCISCO CA 94111 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) Member of Group Owning 10%

1. Name and Address of Reporting Person* TINICUM PARTNERS LP FARALLON (Last) (First) (Middle) C/O FARALLON CAPITAL MANAGEMENT, L.L.C. ONE MARITIME PLAZA, SUITE 1325 (Street) SAN FRANCISCO CA 94111 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) Member of Group Owning 10%

1. Name and Address of Reporting Person* COHEN DAVID I (Last) (First) (Middle) C/O FARALLON CAPITAL MANAGEMENT, L.L.C. ONE MARITIME PLAZA, SUITE 1325 (Street) SAN FRANCISCO CA 94111 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) Member of Group Owning 10%

1. Name and Address of Reporting Person* DING CHUN R (Last) (First) (Middle) C/O FARALLON CAPITAL MANAGEMENT, L.L.C. ONE MARITIME PLAZA, SUITE 1325 (Street) SAN FRANCISCO CA 94111 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) Member of Group Owning 10%

1. Name and Address of Reporting Person* DOWNES JOSEPH F (Last) (First) (Middle) C/O FARALLON CAPITAL MANAGEMENT, L.L.C. ONE MARITIME PLAZA, SUITE 1325 (Street) SAN FRANCISCO CA 94111 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) Member of Group Owning 10%

1. Name and Address of Reporting Person* DUHAMEL WILLIAM F (Last) (First) (Middle) C/O FARALLON CAPITAL MANAGEMENT, L.L.C. ONE MARITIME PLAZA, SUITE 1325 (Street) SAN FRANSICO CA 94111 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) Member of Group Owning 10%

1. Name and Address of Reporting Person* ELLWEIN CHARLES E (Last) (First) (Middle) C/O FARALLON CAPITAL MANAGEMENT, L.L.C. ONE MARITIME PLAZA, SUITE 1325 (Street) SAN FRANCISCO CA 94111 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) Member of Group Owning 10%

1. Name and Address of Reporting Person* FRIED RICHARD B (Last) (First) (Middle) C/O FARALLON CAPITAL MANAGEMENT, L.L.C. ONE MARITIME PLAZA, SUITE 1325 (Street) SAN FRANSICO CA 94111 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) Member of Group Owning 10%

Explanation of Responses:

1. The aggregate amount of securities reported on this Form 4 is 2,778,698, of which 589,101 shares are owned directly by Farallon Capital Partners, L.P. ("FCP"); 28,496 shares are owned directly by Tinicum Partners, L.P. ("Tinicum"); 1,398,317 shares are directly owned by Farallon Offshore Special Holdings LLC ("FOSH") and 762,784 shares are directly owned by Farallon Institutional Special Holdings LLC ("FISH"). The footnotes of this Form 4 set forth the ownerships of these entities, as well as the other entities and individuals that may be deemed to beneficially own such securities, and explain the relationships between such entities and individuals.

2. The entities and individuals identified in the footnotes of this Form 4 may be deemed members of a group holding equity securities of the Issuer. The filing of this Form 4 and any statements included herein shall not be deemed to be an admission that such entities and individuals are members of such group. Since the number of reporting persons that may be listed on a Form 4 is limited, Farallon Capital Management, L.L.C. ("FCMLLC"), FOSH, FISH, Monica R. Landry, William F. Mellin, Stephen L. Millham, Rajiv A. Patel, Derek C. Schrier, Thomas F. Steyer and Mark C. Wehrly, each as listed in footnote (9) of this Form 4, are filing a separate Form 4 on the same date as the filing of this Form 4 as reporting persons with respect to the securities described in this Form 4. Information regarding these entities and these individual filers is included on this Form 4 for purposes of clarification and convenience only, and is duplicative of the information reported in such other Form 4.

3. The amount of securities shown in column 5 of Table I of this Form 4 is owned directly by FCP (FCP, together with Tinicum, being the "Partnerships").

4. The amount of securities shown in column 5 of Table I of this Form 4 is owned directly by Tinicum.

5. The amount of securities shown in column 5 of Table I of this Form 4 is owned directly by FCP and Tinicum. As the general partner to each of FCP and Tinicum, FPLLC may be deemed to be the beneficial owner of the Issuer's securities held by each of FCP and Tinicum. FPLLC disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities representing FPLLC's pro rata interest in, and interest in the profits of, FCP and Tinicum.

6. The amount of securities shown in column 5 of Table I of this Form 4 is owned directly by FOSH (together with FISH, the "LLCs").

7. The amount of securities shown in column 5 of Table I of this Form 4 is owned directly by FISH.

8. The amount of securities shown in column 5 of Table I of this Form 4 is owned directly by FOSH and FISH. As the manager member of the LLCs, FCMLLC may be deemed to be the beneficial owner of the Issuer's securities beneficially owned by the LLCs. FCMLLC disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended, or otherwise.

9. The amount of securities shown in column 5 of Table I of this Form 4 is owned directly by the Partnerships and by the LLCs. Each of David I. Cohen, Chun R. Ding, Joseph F. Downes, William F. Duhamel, Charles E. Ellwein, Richard B. Fried, Monica R. Landry, William F. Mellin, Stephen L. Millham, Rajiv A. Patel, Derek C. Schrier and Mark C. Wehrly (collectively the "Managing Members") and Thomas F. Steyer (the "Senior Managing Member"), as either a managing member or senior managing member of FPLLC and FCMLLC, may be deemed to be a beneficial owner of the Issuer's securities held by the Partnerships and the LLCs as referenced in footnotes (3), (4), (6) and (7) of this Form 4. The Managing Members and the Senior Managing Member disclaim any beneficial ownership of any of the Issuer's securities reported herein for purposes of Rule 16(a)-1(a) under the Securities Exchange Act of 1934, as amended, or otherwise.

10. The LLCs and the Partnerships acquired the securities reported in this Form 4, as well as certain 9% Senior Unsecured Notes issued by the Issuer (the "9% Notes"), as distributions on general unsecured claims (the "Farallon Claims") held in the Chapter 11 reorganization proceedings of EOTT Energy Partners, L.P. (now known as Link Energy LLC, the Issuer) and certain affiliated entities which commenced on October 8, 2002 in the United States Bankruptcy Court for the Southern District of Texas, Corpus Christi Division. The securities reported on the Reporting Persons' Form 3s filed with respect to the Issuer, together with the 9% Notes issued by the Issuer received as of September 8, 2003, represented payment on 90% of the Farallon Claims. The additional securities reported on this Form 4, together with certain additional 9% Notes received by the Reporting Persons, represent payment on the remaining 10% of the Farallon Claims. These transactions are neither purchases nor sales.

	/s/ Joseph F. Downes, on his own behalf and as attorney-in-fact and/or authorized signer for each of FPLLC, FCP, Tinicum, David I. Cohen, Chun R. Ding, William F. Duhamel, Charles E. Ellwein and Richard B. Fried	01/22/2004
	.	01/22/2004
	.	01/22/2004
	.	01/22/2004
	.	01/22/2004
	.	01/22/2004
	.	01/22/2004
	.	01/22/2004
	.	01/22/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.