8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

April 23, 2008

Date of Report (Date of earliest event reported)

NORTHWEST NATURAL GAS COMPANY

(Exact name of registrant as specified in its charter)

Commission File No. 1-15973

Oregon	93-0256722
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

220 N.W. Second Avenue, Portland, Oregon 97209

(Address of principal executive offices) (Zip Code)

Registrant’s Telephone Number, including area code: (503) 226-4211

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

Sale of Airplane

On April 23, 2008, Northwest Natural Gas Company (NW Natural) sold its investment in a Boeing 737-300 aircraft for approximately $6.2 million cash, plus accrued rents. The airplane was purchased in 1987 and leased to Continental Airlines, and currently the airplane continues under lease to Continental. An estimated after-tax gain of $1.0 million will be recognized in NW Natural’s second quarter of 2008.

A press release dated April 25, 2008 is attached as Exhibit 99.1.

Extension of Share Repurchase Program

On April 24, 2008, the Board of Directors authorized an extension to NW Natural’s common stock share repurchase program through May 31, 2009. The current program includes an aggregate authorization of up to 2.8 million shares, or $100 million. Purchases under this program are made in the open market or through privately negotiated transactions. As of March 31, 2008, the total common stock repurchased under this program totaled 2.1 million shares, or $83.3 million.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	NORTHWEST NATURAL GAS COMPANY
	(Registrant)
Dated: April 28, 2008	/s/ David H. Anderson
	David H. Anderson
	Senior Vice President and Chief Financial Officer

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EXHIBIT INDEX

Exhibits	Description
99.1	Press Release of Northwest Natural Gas Company issued April 25, 2008.

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EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE: April 25, 2008

NW Natural Sells Investment in Airplane,

The Last of Planned Sales of Non-Core Assets

PORTLAND, ORE.—Northwest Natural Gas Company (NYSE: NWN), dba NW Natural, announced today the sale of its interest in a Boeing 737-300 aircraft for approximately $6.2 million, resulting in a small after-tax gain that will be recognized in NW Natural’s second quarter of 2008.

The airplane was originally purchased in 1987 and leased to Continental Airlines.

According to Senior Vice President and Chief Financial Officer David Anderson, “This transaction concludes the last in a series of sales of non-core assets owned by the company that included the sale of solar electric generating systems in 2005, the sale of interests in wind power electric generation projects in 2007, and the disposition of a low-income housing project investment late in 2007.

“While good investments in their time,” Anderson added, “we have been able to convert these non-core assets into cash, as planned, which allows us to focus on our core utility, gas storage and gas transmission pipeline activities.”

About NW Natural

NW Natural is headquartered in Portland, Ore., and serves more than 657,000 residential and business customers in Oregon and southwest Washington. It is the largest independent natural gas utility in the Pacific Northwest. NW Natural is also among the fastest growing local distribution companies in the nation. The company has approximately $2.0 billion in total assets, which includes 16 Bcf of underground gas storage capacity within its service territory at Mist, Ore. NW Natural has increased its dividends paid on common stock for 52 consecutive years.

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Contacts at NW Natural

Investor Contact: Bob Hess, 503-220-2388

Bob.Hess@nwnatural.com

Or

Media Contact: Steve Sechrist, 503-220-2594

Steve.Sechrist@nwnatural.com