UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Form 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): September 26, 1997 COMMISSION FILE NO. 0-25842 Pacific Gas Transmission Company (Exact name of registrant as specified in its charter) California 94-1512922 (State or other jurisdiction of (I.R.S. employer Identification No.) incorporation or organization) 2100 SW River Parkway, Portland, OR 97201 (Address of principal executive (Zip code) offices) Registrant's telephone number, including area code: (503) 833-4000 ITEM 5. OTHER EVENTS Pacific Gas Transmission Company (PGT) is a wholly owned subsidiary of PG&E Gas Transmission Corporation, which in turn, is wholly owned by PG&E Corporation. On September 26, 1997, PGT sold its Australian subsidiaries and its interest in the PG&E Queensland Gas Pipeline to another PG&E Corporation affiliate for $42 million. Since this transaction was between entities within the PG&E Corporation consolidated group, no gain or loss was recognized upon disposition. The subsidiaries included PG&E Gas Transmission Queensland Pty Limited (PG&E Queensland), the operator of the PG&E Queensland Gas Pipeline, and PG&E Gas Transmission Australia Pty Limited (PG&E Australia). PG&E Australia was established to pursue new business development opportunities in Australia for PGT and to serve as trustee of the PG&E Queensland Unit Trust (PG&E Qld Trust). The PG&E Qld Trust, which held the assets of the PG&E Queensland Gas Pipeline, was owned by Pacific Gas Transmission International, Inc. (a PGT wholly owned subsidiary) and PG&E Queensland. SIGNATURE 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. PACIFIC GAS TRANSMISSION COMPANY (Registrant) October 6, 1997 By: /s/ STANLEY C. KARCZEWSKI -------------------------------- Name: Stanley C. Karczewski Title: Vice President and Chief Financial Officer and Controller