Exhibit 12.1

TRANSCONTINENTAL GAS PIPE LINE CORPORATION

COMPUTATION OF EARNINGS TO FIXED CHARGES

Thousands of Dollars, except ratios

(UNAUDITED)

	Year Ended December 31,															For the Nine Months Ended September 30, 2010			For the Nine Months Ended September 30, 2011
	2006			2007			2008			2009			2010
Earnings Available for Fixed Charges:
Net Income	$	114,845		$	172,151		$	1,298,885		$	280,357		$	270,776		$	208,137		$	206,224
Adjustment for undistributed income of equity investees		(451	)		(881	)		(182	)		(635	)		2,626			2,092			(594	)
Plus—Interest expense and portion of rents representative ofthe interest factor, net of interest capitalized, andamortization of debt expense, discount and premium		86,380			95,355			96,479			94,680			95,228			71,227			71,746
Federal income taxes		11,888			105,533			36,286			0			0			0			0
Deferred federal income taxes		48,785			(13,294	)		(867,400	)		0			0			0			0
State and Municipal income taxes		25,566			11,475			(129,592	)		(248	)		360			403			264
Total	$	287,013		$	370,339		$	434,476		$	374,154		$	368,990		$	281,859		$	277,640
Fixed Charges:
Interest on long-term debt	$	85,212		$	88,954		$	89,939		$	92,800		$	92,800			69,600			69,673
Other interest expense (includes intercompany)		(2,132	)		3,046			3,613			(1,235	)		(732	)		(738	)		(292	)
Portion of rents representative of the interest factor, including amounts capitalized		1,197			1,043			954			1,048			1,025			756			770
Amortization of debt expense, discount and premium		2,439			2,617			2,201			2,328			2,418			1,804			1,836
Total	$	86,716		$	95,660		$	96,707		$	94,941		$	95,511		$	71,422		$	71,987
Ratio of earnings to fixed charges		3.31			3.87			4.49			3.94			3.86			3.95			3.86

For purposes of calculating the ratio of earnings to fixed charges:

(a) Earnings represent the aggregate of pre-tax income, adjusted for undistributed income of equity investees, and fixed charges, net of interest capitalized.

(b) Fixed charges represent interest (whether expensed or capitalized), the amortization of total debt premium, discount and expense, and that portion of rentals considered to be representative of the interest factor.