EXHIBIT 12

NORTHWEST NATURAL GAS COMPANY

Computation of Ratio of Earnings to Fixed Charges

January 1, 2000 - June 30, 2005

(Thousands, except ratio of earnings to fixed charges)

(Unaudited)

	Year Ended December 31										12 Months Ended June 30, 2005		Six Months Ended June 30, 2005*
	2004		2003		2002		2001		2000
Fixed Charges, as Defined:
Interest on Long-Term Debt	$	33,776	$	33,258	$	32,264	$	30,224	$	29,987	$	33,797	$	16,922
Other Interest		2,184		2,048		1,620		3,772		3,628		2,296		930
Amortization of Debt Discount and Expense		773		696		799		768		735		775		383
Interest Portion of Rentals		1,489		1,622		1,578		1,572		1,628		1,392		671
Total Fixed Charges, as defined	$	38,222	$	37,624	$	36,261	$	36,336	$	35,978	$	38,260	$	18,906
Earnings, as Defined:
Net Income	$	50,572	$	45,983	$	43,792	$	50,187	$	50,224	$	59,703	$	41,027
Taxes on Income		26,531		23,340		23,444		27,553		26,829		32,008		23,381
Fixed Charges, as above		38,222		37,624		36,261		36,336		35,978		38,260		18,906
Total Earnings, as defined	$	115,325	$	106,947	$	103,497	$	114,076	$	113,031	$	129,971	$	83,314
Ratio of Earnings to Fixed Charges		3.02		2.84		2.85		3.14		3.14		3.40		4.41

* A significant part of the business of the Company is of a seasonal nature; therefore, the ratio of earnings to fixed charges for the interim period is not necessarily indicative of the results for a full year.