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CONSOLIDATED NATURAL GAS REPORTS 1991 RESULTS

 CONSOLIDATED NATURAL GAS REPORTS 1991 RESULTS
 PITTSBURGH, Feb. 18 /PRNewswire/ -- Consolidated Natural Gas Company


(NYSE: CNG) reported today that net income for the year 1991 rose 3 percent to $168.6 million, or $1.94 a share, up from $163.8 million, or $1.91 a share, in 1990.
 For the fourth quarter of 1991, the company had net income of $95.6 million, or $1.10 a share, up 3 percent from $92.5 million, or $1.07 a share, in the fourth period of 1990.
 George A. Davidson Jr., Consolidated's chairman and chief executive officer, noted that the weather in both 1990 and 1991 was unusually warm, with 1991 being 14 percent warmer than normal in the company's retail service areas. Nevertheless, 1991 was slightly colder than 1990 and that, plus higher gas deliveries to customers on the East Coast, higher storage service revenues, the effect of general rate increases at several subsidiaries, and the settlement of tax issues from prior years, contributed to the increase in net income in both periods, he said.
 These factors more than offset a sharp drop in earnings from the company's exploration and production operations, which were hurt by the weather-depressed low prices paid to gas producers nationwide in 1991.
 Throughput of the company's interstate pipeline operations increased 12 percent in the year to 546 billion cubic feet (Bcf), up from 487 Bcf. This was due primarily to the company's ongoing expansion of services provided to new and existing customers on the East Coast. Throughput of CNG's gas distribution utilities was 408 billion cubic feet in the year, up about 2 percent from 399 Bcf in 1990. This reflected, primarily, the effect on gas demand of slightly colder weather. (Throughput includes both gas sold and gas transported.)
 Gas production was down approximately 10 percent in the year to 133 Bcf from 147 Bcf, reflecting the weak prices for gas at the wellhead during the year. The company's average price for gas produced in 1991 was $1.96 a thousand cubic feet, compared with $2.26 a thousand in 1990.
 Consolidated is one of the country's largest producers, transporters and distributors of natural gas. Its primary marketing areas for natural gas are in Ohio, Pennsylvania, Virginia, West Virginia, New York and other states in the Northeast. The company explores for and produces gas and oil throughout the United States and in Canada.
 CONSOLIDATED NATURAL GAS COMPANY
 Years ended Dec. 31, 1991 1990
 Total operating revenues $2,607,006,000 $2,714,871,000
 Net income $168,613,000 $163,770,000
 Earnings per share of common stock $1.94 $1.91
 Average common shares outstanding 86,837,000 85,683,000
 Three months ended Dec. 31, 1991 1990
 Total operating revenues $757,204,000 $838,492,000
 Net income $95,630,000 $92,443,000
 Earnings per share of common stock $1.10 $1.07
 Average common shares outstanding 87,188,000 86,236,000
 -0- 2/18/92
 /CONTACT: John Conti of Consolidated Natural Gas, 412-227-1133/
 (CNG) CO: Consolidated Natural Gas Company ST: Pennsylvania IN: OIL SU: ERN


CK -- NY058 -- 9910 02/18/92 11:51 EST
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Date:Feb 18, 1992
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