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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 3, 1998
CONSOLIDATED NATURAL GAS COMPANY
(Exact name of registrant as specified in its charter)
Delaware 1-3196 13-0596475
(State of incorporation) (Commission (IRS Employer
File Number) Identification No.)
CNG Tower, 625 Liberty Avenue, Pittsburgh, PA 15222-3199
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (412) 690-1000
Not Applicable
(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
On March 30, 1998, Consolidated Natural Gas Company issued a press release
concerning its acquisition of additional interests in two gas utility holding
companies and one electric utility holding company in Argentina. A copy of
the press release is hereby incorporated by reference and made a part of this
filing as Exhibits 1 hereto.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CONSOLIDATED NATURAL GAS COMPANY
________________________________
(Registrant)
By D. M. WESTFALL
______________________________
(D. M. Westfall)
Senior Vice President
April 3, 1998 and Chief Financial Officer
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Exhibit 1
For further information: Dan Donovan
412-690-1370
CNG International Increases
Interests in Three Argentina Utilities
PITTSBURGH, March 30, 1998 - CNG International Corporation, a subsidiary
of Consolidated Natural Gas Company, today announced it has increased its
interests in two Argentina gas companies and one Argentina electric company by
$45 million.
CNG International has purchased an additional 9.05 percent in two gas
holding companies, Sodigas Pampeana and Sodigas Sur, and an additional five
percent interest in an electric holding company, Buenos Aires Energy Company
(BAECO) from Loma Negra, an Argentina company. The purchase now gives CNG
International 21.55 percent of the gas companies and 25 percent of the
electric company.
CNG International purchased its original share of the utilities in
December. The gas utilities serve 1.1 million customers using 335 billion
cubic feet of natural gas a year. The electric utility serves 400,000
customers using 1800 gigawatt-hours a year.
Earlier this week, CNG International completed its second major purchase
in Australia, a one-third interest in a $1.7 billion natural gas pipeline
privatized by the Western Australia government. The 925-mile pipeline will be
operated by Epic Energy Australia, CNG's venture in Australia. Epic Energy is
now the largest gas transmission company in Australia.
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Including its first purchase 15 months ago, CNG International has
invested over $300 million, primarily in Argentina utilities and Australia
pipelines.
CNG International, based in Reston, Virginia, is a subsidiary of
Consolidated Natural Gas Company (CNG), one of the nation's largest producers,
transporters, distributors and marketers of natural gas.
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CNG's recent news releases are available 24 hours a day on the Internet, by fax
machine, or by voice recording. On the Internet, use CNG's web site:
www.cng.com For faxing, call 1-800-758-5804 on a touch-tone phone and enter
CNG's company extension, which is 203456. From a menu, you will then be able to
select releases that will be faxed to you immediately without charge. For voice
recordings, call 1-888-CNG-NEWS. This line is toll-free.
