<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________________________
: CERTIFICATE
CONSOLIDATED NATURAL GAS COMPANY, et al. : of
Pittsburgh, Pennsylvania : NOTIFICATION
: NO. 1
:
: TRANSACTIONS
: DURING PERIOD
File No. 70-8447 : _____________
:
(Public Utility Holding Company Act of 1935) : October 21, 1994
: through
: December 31, 1994
____________________________________________ :
TO THE SECURITIES AND EXCHANGE COMMISSION:
By Order dated October 21, 1994, HCAR No. 26148, the Securities
and Exchange Commission permitted the Application-Declaration of
Consolidated Natural Gas Company, et al. ("Consolidated"), to become
effective, thereby authorizing Consolidated to provide its subsidiary,
CNG Power Company ("CNG Power") up to $2,000,000 in financing through
July 1, 2004, to be used by CNG Power to invest in CNG Market Center
Services, Inc. ("CNGMC"). (As of January 16, 1995, CNG Energy Company
changed its name to CNG Power Company.) Such financing would be
provided by Consolidated through the purchase of CNG Power common
stock, the making of open account advances or the making of long-term
loans, in any combination thereof.
CNGMC -- a special purpose, wholly-owned subsidiary of CNG Power
- -- owns a 50% general partnership interest in CNG/Sabine Center, the
Delaware partnership operating a market center or "super-hub" which
offers services at points along the 7,400 mile pipeline system of CNG
Transmission Corporation (Consolidated's wholly-owned pipeline
subsidiary). The other 50% general partnership interest is owned by
Sabine Hub Services Company, a wholly-owned subsidiary of Texaco, Inc.
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This Certificate is filed in accordance with Rule 24, as a
notification that of the various transactions authorized by the Order,
the following have been carried out in accordance with the terms and
conditions of and for the purposes represented by the
Application-Declaration and the Order. The reporting required by the
Order for the semi-annual period ending December 31, 1994 is as
follows:
(i) The balance sheet and income statement, as of the end of the
reporting period and for such period, for CNGMC, are filed as
Exhibits A and B.
(ii) Description of CNGMC Activities for the Period.
The CNG/Sabine Center began operations on November 1,
1994, and as of the end of the reporting period, was still in
the start-up phase.
During the reporting period -- November 1 through
December 31, 1994 -- the Center's transactions consisted of
79% transmission or wheeling, 15% parking, and 6% intra-hub or
title transfer services.
As of the current date, the Center has 45 customers under
contract representing about 5 Bcf of service since the start
of operations. While most of the Center's customers are
natural gas marketers or producers, some are local gas
distribution utilities.
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The "past tense" opinion required by paragraph F(2) of the
instructions as to exhibits for Form U-1 will be filed when all of the
transactions authorized pursuant to the Order have been consummated.
CONSOLIDATED NATURAL GAS COMPANY, et al.
J. M. Hostetler
Attorney
Dated this 1st day
of March, 1995
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Exhibit A
CNG Power Company
CNG Market Center Services, Inc.
December 31, 1994 (Unaudited) (1)
Assets CNGMC
______ __________
Property, plant & equipment
Total Investment --
Less accumulated depreciation --
Net property, plant & equipment --
Cash 682
Accounts Receivable --
Inventories --
Investments at Cost 100,000
Deferred Charges --
________
Total Assets 100,682
========
Stockholders Equity & Liabilities
_________________________________
Capitalization
Common stock 100,000
Retained earnings (61,460)
________
Total common stockholders equity 38,540
Long-term notes payable to parent company --
________
Total capitalization 38,540
Total current liabilities 62,142
Accumulated deferred income taxes --
________
Total stockholder's equity and
liabilities $100,682
========
(1) This balance sheet has not been audited by the Company's
independent auditors.
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Exhibit B
CNG Power Company
CNG Market Center Services, Inc.
December 31, 1994 Year-to-Date (Unaudited) (1)
CNGMC
__________
Total operating revenues --
Total operating expenses 92,478
_________
Operating income before taxes (92,478)
Total estimated income taxes (31,018)
_________
Operating income (61,460)
Other income --
Interest charges --
_________
Net income (61,460)
=========
(1) This income statement has not been audited by the Company's
independent auditors.
