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 loss from continuing operations		$	(236	)	$	(1,987	)	$	(1,089	)	$	(815	)	$	(991	)
	Minority interests in consolidated subsidiaries			218			203			55			65			13
	Earnings from equity investees			(437	)		214			(363	)		(546	)		(342	)
	Pre-tax loss from continuing operations before adjustment for minority interests in consolidated subsidiaries, preferred returns on consolidated subsidiaries and earnings from equity investees			(455	)		(1,570	)		(1,397	)		(1,296	)		(1,320	)
	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		$	775		$	671		$	345
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 $1,099 million, $1,079 million, $1,138 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 by $1,126 million, $1,079 million, $1,138 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;     — earnings 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.