Exhibit 12

EL PASO CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(DOLLARS IN MILLIONS)

	FOR THE YEARS ENDED DECEMBER 31,
	2001			2002			2003			2004			2005
Earnings
Pre-tax income (loss) from continuing operations	$	(236	)	$	(1,987	)	$	(1,192	)	$	(947	)	$	(603	)
Minority interests in consolidated subsidiaries		218			203			55			65			13
(Income) loss from equity investees		(437	)		214			(363	)		(546	)		(342	)
Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries and (income) loss from equity investees		(455	)		(1,570	)		(1,500	)		(1,428	)		(932	)
Fixed charges		1,457			1,565			1,913			1,750			1,444
Distributed income of equity investees		287			257			345			335			279
Capitalized interest		(63	)		(28	)		(31	)		(39	)		(45	)
Preferred returns on consolidated subsidiaries		(218	)		(203	)		(55	)		(79	)		(13	)
Total earnings available for fixed charges	$	1,008		$	21		$	672		$	539		$	733
Fixed charges
Interest and debt expense	$	1,212		$	1,326		$	1,823		$	1,640		$	1,413
Interest component of rent		27			36			35			31			18
Preferred returns on consolidated subsidiaries		218			203			55			79			13
Total fixed charges	$	1,457		$	1,565		$	1,913		$	1,750		$	1,444
Ratio of earnings to fixed charges(1)		—			—			—			—			—
Fixed charges
Interest and debt expense	$	1,212		$	1,326		$	1,823		$	1,640		$	1,413
Interest component of rent		27			36			35			31			18
Preferred returns on consolidated subsidiaries		218			203			55			79			13
Preferred stock dividend of parent		—			—			—			—			27
Total fixed charges	$	1,457		$	1,565		$	1,913		$	1,750		$	1,471
Ratio of combined earnings to fixed charges and preferred stock dividends (2)		—			—			—			—			—

(1)	Earnings were inadequate to cover fixed charges by $711 million, $1,211 million, $1,241 million, $1,544 million and $449 million for the years ended December 31, 2005, 2004, 2003, 2002 and 2001.
(2)	Earnings were inadequate to cover fixed charges including preferred stock dividends by $738 million, $1,211 million, $1,241 million, $1,544 million and $449 million for the years ended December 31, 2005, 2004, 2003, 2002 and 2001.

     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 rental expense which we believe represents an interest factor; and

      -preferred stock dividends and preferred returns on consolidated subsidiaries.