##### 



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.