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CITIZENS-NATIONAL FUEL JOINT VENTURE FINALIZED

 CITIZENS-NATIONAL FUEL JOINT VENTURE FINALIZED
 BOSTON, Jan. 17 /PRNewswire/ -- Citizens Gas Supply Corporation


and National Fuel Resources, Inc., a subsidiary of National Fuel Gas Company (NYSE: NFG), announced today that they have signed a partnership agreement and announced the formation of Citizens National Gas Company. The affiliation was approved by the Securities and Exchange Commission (SEC) on December 23. The SEC approval represented the final regulatory hurdle for the Citizens-National alliance and marked the formal commencement of joint commercial activities.
 Citizens Gas Supply and National Fuel first announced their intentions to work together in October 1990. During the past year, the companies have engaged in some joint marketing activities and new investments while awaiting SEC approval. Citizens National will gather, purchase, store, transport and market natural gas while working to increase its holdings of related assets such as natural gas gathering systems and underground storage.
 The combined industry and financial resources of Citizens Gas and National Fuel provide a strong foundation for the newly formed company as it seeks to undertake a wide range of investments and other supply and market activities.
 Citizens Gas Supply is an independent gas marketing company with offices in Houston and Boston. National Fuel, based in Buffalo, N.Y., is a public utility holding company with subsidiaries involved in all aspects of the natural gas industry from exploration and production to pipeline and utility distribution operations.
 -0- 1/17/92
 /CONTACTS: Jean E. Fleischman of Citizens Gas, 617-338-6300; or Arthur K. Coon, 716-857-7925 or (investors) Donna L. DeCarolis, 716-857-7872, or Deborah K. Kullander, 716-857-7706, all of National Fuel/
 (NFG) CO: Citizens Gas Supply Corp.; National Fuel Resources Inc. ST: New York, Massachusetts IN: OIL SU: JVN


TS -- NY035 -- 0988 01/17/92 12:32 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jan 17, 1992
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