<PAGE> 1
File Number 70-8599
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
AMENDMENT NO. 2
TO
FORM U-1
APPLICATION-DECLARATION UNDER THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
By
CONSOLIDATED NATURAL GAS COMPANY
CNG Tower
625 Liberty Avenue
Pittsburgh, Pennsylvania 15222-3199
(registered holding company and
parent of the other party)
CONSOLIDATED SYSTEM LNG COMPANY
625 Liberty Avenue
Pittsburgh, Pennsylvania 15222-3199
Names and addresses of agents for service:
S. E. Williams, Senior Vice President
and General Counsel
Consolidated Natural Gas Service Company, Inc.
CNG Tower
625 Liberty Avenue
Pittsburgh, Pennsylvania 15222-3199
J. M. Hostetler, Attorney
Consolidated Natural Gas Service Company, Inc.
CNG Tower
625 Liberty Avenue
Pittsburgh, Pennsylvania 15222-3199
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File Number 70-8599
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 2 TO
DECLARATION UNDER THE PUBLIC UTILITY
HOLDING COMPANY ACT OF 1935
Consolidated Natural Gas Company et al. hereby amend
their declaration under the above file number as follows:
Item 6. Exhibits and Financial Statements
_________________________________
The following is made part of this statement:
(b) Financial Statements: Balance Sheet,
Income Statement and Project Cash Flow
SIGNATURES
Pursuant to the requirements of the Public Utility
Holding Company Act of 1935; the undersigned companies have duly
caused this statement to be signed on their respective behalf by
the undersigned thereunto duly authorized.
CONSOLIDATED NATURAL GAS COMPANY
CONSOLIDATED SYSTEM LNG COMPANY
By J. M. Hostetler
Their Attorney
Dated: August 11, 1995
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LNG
CASH FLOW
($Thousands)
1995 1996 1997 1998
____ ____ ____ ____
CASH FLOWS FROM OPERATING
ACTIVITIES
Net Income 3,330 2,114 1,765 1,469
Depreciation and Amortization 0 0 0 0
Deferred Income Taxes (Net) (4,784) (5,151) (5,381) (554)
Investment Tax Credit (Net) 0 0 0 0
Certain Changes in Working
Capital (2,483) 0 0 0
Other (Net) (1) 13,793 14,326 14,965 2,260
______ ______ ______ _____
NET CASH PROVIDED BY OPERATING
ACTIVITIES 9,856 11,289 11,349 3,175
(1) Represents amortization of LNG's investment in the abandoned LNG
facilities at Cove Point, MD.
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CONSOLIDATED SYSTEM LNG COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1994
(Thousands of Dollars)
Operating Revenues
Regulated gas sales (1) $ 17,998
Nonregulated gas sales ________
Total gas sales 17,998
Gas transportation and storage -
Other -
________
Total operating revenues 17,998
________
Operating Expenses
Purchased gas -
Transport capacity and other purchased products -
Operation expense 13,180
Maintenance -
Depreciation and amortization -
Taxes, other than income taxes (1)
________
Subtotal 13,179
________
Operating income before income taxes 4,819
Income taxes 3,225
________
Operating income 1,594
________
Other Income
Interest revenues 28
Other-net -
Equity in earnings of subsidiary companies -
consolidated -
Interest revenues from affiliated companies -
consolidated 2,163
________
Total other income 2,191
________
Income before interest charges 3,785
________
Interest Charges
Interest on long-term debt -
Other interest expense -
Allowance for funds used during construction -
________
Total interest charges -
________
Net Income $ 3,785
========
(1) Represents the recovery of costs through rates charged to
Consolidated subsidiary CNG Transmission Corporation as
required by the FERC.
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CONSOLIDATED SYSTEM LNG COMPANY
BALANCE SHEET
At December 31,1994
(Thousands of Dollars)
Stockholders' Equity and Liabilities
Capitalization
Common stockholders' equity
Common stock $ 83,400
Capital in excess of par value -
Retained earnings 304
________
Total common stockholders' equity 83,704
________
Long-term debt
Debentures -
Convertible subordinated debentures -
Unsecured loan -
Notes payable to Registrant - consolidated -
________
Total long-term debt -
________
Total capitalization 83,704
________
Current Liabilities
Current maturities on long-term debt -
Commercial paper -
Accounts payable -
Estimated rate contingencies and refunds -
Payables to affiliated companies - consolidated 2,502
Amounts payable to customers -
Taxes accrued (19)
Deferred income taxes - current -
Dividends declared -
Other current liabilities -
________
Total current liabilities 2,483
________
Deferred Credits
Deferred income taxes 15,870
Accumulated deferred investment tax credits -
Deferred credits and other liabilities -
________
Total deferred credits 15,870
________
Commitments and Contingencies ________
Total stockholders' equity and liabilities $102,057
=======
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CONSOLIDATED SYSTEM LNG COMPANY
BALANCE SHEET
At December 31, 1994
(Thousands of Dollars)
Assets
Property, Plant and Equipment
Gas utility and other plant $ -
Accumulated depreciation and amortization -
________
Net gas utility and other plant -
________
Exploration and production properties -
Accumulated depreciation and amortization -
________
Net exploration and production properties -
________
Net property, plant and equipment -
________
Investments
Stocks of subsidiary companies, at equity -
consolidated -
Notes of subsidiary companies - consolidated -
________
Total investments -
________
Current Assets
Cash and temporary cash investments 29
Accounts receivable
Customers -
Unbilled revenues and other -
Allowance for doubtful accounts -
Receivables from affiliated companies -
consolidated (1) 56,682
Inventories, at cost
Gas stored - current portion (LIFO method) -
Materials and supplies (average cost method) -
Unrecovered gas costs -
Deferred income taxes - current -
Prepayments and other current assets 2
________
Total current assets 56,713
________
Regulatory and Other Assets
Unamortized abandoned facilities 40,955
Other investments -
Deferred charges and other assets 4,389
________
Total regulatory and other assets 45,344
________
Total assets $102,057
========
(1) Represents LNG company participation in the SEC-approved "System
Money Pool" of $55,190,000 and Receivable sales revenues of
$1,492,000.
