<PAGE> 1
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): March 4,
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.)
<PAGE> 2
ITEM 5. OTHER EVENTS
On March 3, 1998, Consolidated Natural Gas Company issued a press
release concerning the acceptance of a bid by substantially all
the owners of Epic Energy Pty. Ltd to purchase a 925 mile
pipeline being privatized by the state government of Western
Australia. Consolidated will indirectly own a one-third interest
in Epic Western Australia Trust expected to be established to
acquire the pipeline. A copy of the press release is hereby
incorporated by reference and made a part of this filing as
Exhibits 1 hereto.
<PAGE> 3
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
March 4, 1998 and Chief
Financial Officer
<PAGE> 1
Exhibit 1
for further information: Dan Donovan
412-690-1370
Consolidated Natural Gas Purchases One-Third Share
of Western Australia Natural Gas Pipeline
PITTSBURGH, March 3, 1998 -- Consolidated Natural Gas
Company and its partners announced today the acceptance of their
US$1.7 billion bid to own and operate a 925-mile natural gas
pipeline being privatized by the Western Australia state
government.
A CNG subsidiary, CNG International Corporation, will hold a
33.3 percent interest in the AlintaGas Dampier-to-Bunbury Natural
Gas Pipeline. Other partners include El Paso Energy Corporation
(33.3 percent), AMP Asset Management (11.1 percent), Axiom Funds
Management (11.1 percent) and Hastings Funds Management (11.1
percent).
The purchase is scheduled to close in April and is estimated
to require a investment of $145 million by CNG.
Dampier-to-Bunbury is a 24-inch, 550 million cubic feet a
day pipeline that brings gas supplies in from the northwest
portion of the state. It serves several industrial companies,
including Wesfarmers, Western Power, Alcoa Aluminum and Worsley
Aluminum, and plans are to double its capacity by the end of the
year 2007.
CNG and El Paso, a business unit of El Paso Energy
Corporation, also each own 30 percent of Epic Energy, which has
two pipelines in southern and eastern Australia. After the sale,
Epic will manage the Dampier-to-Bunbury pipeline.
<PAGE> 2
CNG is one of the nation's largest producers, transporters,
distributors and marketers of natural gas, and offers a variety
of energy marketing services throughout North America. The
company's natural gas transmission and distribution operations
serve customers in Ohio, Pennsylvania, Virginia, West Virginia,
New York and other states in the Northeast and Mid-Atlantic
regions. CNG explores for and produces natural gas and oil in
the United States and Canada, and makes selective investments
abroad.
#####
This press release contains forward-looking statements. The
company wishes to caution readers that the assumptions which form
the basis for forward-looking statements with respect to or that
may impact earnings for fiscal 1998, and thereafter, include many
factors that are beyond the company's ability to control or
estimate precisely, such as estimates of future market conditions
and the behavior of other market participants. Other factors
include, but are not limited to, weather conditions, economic
conditions in the company's service territory, fluctuations in
energy-related commodity prices, conversion activity, other
marketing efforts and other uncertainties.
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.
