EXHIBIT 12
NATIONAL FUEL GAS COMPANY
COMPUTATION OF RATIO OF
EARNINGS TO FIXED CHARGES
UNAUDITED
	For the Twelve		Fiscal Year Ended September 30,
	Months Ended
	March 31, 2013			2012		2011		2010		2009
EARNINGS:
Income from Continuing Operations	$	245,650	$	220,077	$	258,402	$	219,133	$	103,484
Plus Income Tax Expense		163,692		150,554		164,381		137,227		52,859
Less Investment Tax Credit (1)		(504)		(581)		(697)		(697)		(697)
(Less Income) Plus Loss from Unconsolidated Subsidiaries (3)		1,339		1,442		759		(2,488)		(1,562)
Plus Distributions from Unconsolidated Subsidiaries		-		-		4,278		2,600		2,900
Plus Interest Expense on Long-Term Debt		87,170		82,002		73,567		87,190		79,419
Plus Other Interest Expense		3,809		4,238		4,554		6,756		7,370
Less Amortization of Loss on Reacquired Debt		(1,003)		(1,093)		(1,093)		(1,093)		(1,124)
Plus (Less) Allowance for Borrowed Funds Used in Construction		1,354		1,231		1,037		323		1,174
Plus (Less) Other Capitalized Interest		1,855		2,992		1,516		1,056		-
Plus Rentals (2)		14,106		12,958		5,003		1,707		1,867
	$	517,468	$	473,820	$	511,707	$	451,714	$	245,690
FIXED CHARGES:
Interest & Amortization of Premium and Discount of Funded Debt	$	87,170	$	82,002	$	73,567	$	87,190	$	79,419
Plus Other Interest Expense		3,809		4,238		4,554		6,756		7,370
Less Amortization of Loss on Reacquired Debt		(1,003)		(1,093)		(1,093)		(1,093)		(1,124)
Plus (Less) Allowance for Borrowed Funds Used in Construction		1,354		1,231		1,037		323		1,174
Plus (Less) Other Capitalized Interest		1,855		2,992		1,516		1,056		-
Plus Rentals (2)		14,106		12,958		5,003		1,707		1,867
	$	107,291	$	102,328	$	84,584	$	95,939	$	88,706
RATIO OF EARNINGS TO FIXED CHARGES		4.82		4.63		6.05		4.71		2.77

(1) Investment Tax Credit is included in Other Income.

(2) Rentals shown above represent the portion of all rentals (other than delay rentals) deemed representative of the interest factor.

(3) Fiscal 2009 includes an impairment of an investment in a partnership of $1,804.