Rule 424(b)(3)
File No. 33-49401
PRICING SUPPLEMENT NO. 2, DATED JULY 7, 1994
(To Prospectus dated April 15, 1994
and Prospectus Supplement dated April 15, 1994)
NATIONAL FUEL GAS COMPANY
(Medium-Term Notes, Series C)
Trade Date: July 7, 1994
Principal Amount: $50,000,000
Price to Public: 100.000%
Issue Date: July 14, 1994 (the Offered Notes
will bear interest from July 14, 1994)
Maturity Date: July 14, 1999
Interest Rate: 7.25%
Underwriting Discount: .468%
Proceeds to the Company: $49,766,000
Additional Terms: Non-Redeemable
UNDERWRITING
Subject to the terms and conditions set forth in a
Terms Agreement, dated July 7, 1994 between Goldman, Sachs & Co.
(the "Purchaser") and the Company (the "Terms Agreement"), the
Purchaser has agreed to purchase from the Company, and the
Company has agreed to sell to the Purchaser, as principal,
$50,000,000 principal amount of the Offered Notes.
Under the terms and conditions of the Terms Agreement,
the Purchaser is authorized to utilize a selling or dealer group
in connection with the resale of the Offered Notes.
The Company has been advised by the Purchaser that it
proposes to offer the Offered Notes to one or more investors or
other purchasers, including other dealers, from time to time in
one or more transactions, including negotiated transactions, at
varying prices related to prevailing market prices at the time of
resale.
