EXHIBIT 12

EL PASO CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

																		For The
																		Six Months
																		Ended
			For The Years Ended December 31,															June 30,
			2000			2001			2002			2003			2004			2004			2005
			(In millions, except ratio)
Earnings
	Pre-tax income (loss) from continuing operations		$	632		$	(180	)	$	(1,883	)	$	(1,074	)	$	(802	)	$	(27	)	$	(188	)
	Minority interests in consolidated subsidiaries			204			219			217			53			66			40			12
	(Income) loss from equity investees			(423	)		(437	)		214			(362	)		(547	)		(185	)		(171	)
	Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries and (income) loss from equity investees			413			(398	)		(1,452	)		(1,383	)		(1,283	)		(172	)		(347	)
	Fixed charges			1,389			1,462			1,582			1,913			1,752			914			724
	Distributed income of equity investees			317			287			257			345			335			158			147
	Capitalized interest			(75	)		(63	)		(28	)		(31	)		(39	)		(18	)		(19	)
	Preferred returns on consolidated subsidiaries			(221	)		(219	)		(217	)		(53	)		(78	)		(45	)		(12	)
		Total earnings available for fixed charges	$	1,823		$	1,069		$	142		$	791		$	687		$	837		$	493
Fixed charges
	Interest and debt costs		$	1,115		$	1,212		$	1,326		$	1,822		$	1,640		$	851		$	704
	Interest component of rent			53			31			39			38			34			18			9
	Preferred stock dividends and preferred returns on consolidated subsidiaries			221			219			217			53			78			45			20
		Total fixed charges	$	1,389		$	1,462		$	1,582		$	1,913		$	1,752		$	914		$	724
Ratio of earnings to fixed charges				1.31			—			—			—			—			—			—

      For purposes of computing these ratios, earnings means pre-tax income (loss) from continuing operations before:

—  minority interests in consolidated subsidiaries;

—  income or loss from equity investees, adjusted to reflect actual distributions from equity investments; and

—  fixed charges;

      less:

—  capitalized interest; and

—  preferred returns on consolidated subsidiaries.

      Fixed charges means the sum of the following:

—  interest costs, not including interest on rate refunds;

—  amortization of debt costs;

—  that portion of the rental expense which we believe represents an interest factor;

—  preferred stock dividends; and

—  preferred returns on consolidated subsidiaries.