Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
REILLEY DENNIS H
  2. Issuer Name and Ticker or Trading Symbol
PRAXAIR INC [PX]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman
(Last)
(First)
(Middle)
C/O PRAXAIR, INC., 39 OLD RIDGEBURY ROAD
3. Date of Earliest Transaction (Month/Day/Year)
02/14/2007
(Street)

DANBURY, CT 06810-5113
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/14/2007   M   200,500 A $ 22.01 311,265.2512 D  
Common Stock 02/14/2007   S   13,300 D $ 64 297,965.2512 D  
Common Stock 02/14/2007   S   6,300 D $ 64.01 291,665.2512 D  
Common Stock 02/14/2007   S   900 D $ 64.02 290,765.2512 D  
Common Stock 02/14/2007   S   25,600 D $ 64.03 265,165.2512 D  
Common Stock 02/14/2007   S   18,000 D $ 64.04 247,165.2512 D  
Common Stock 02/14/2007   S   14,300 D $ 64.05 232,865.2512 D  
Common Stock 02/14/2007   S   7,600 D $ 64.06 225,265.2512 D  
Common Stock 02/14/2007   S   13,200 D $ 64.07 212,065.2512 D  
Common Stock 02/14/2007   S   6,800 D $ 64.08 205,265.2512 D  
Common Stock 02/14/2007   S   13,300 D $ 64.09 191,965.2512 D  
Common Stock 02/14/2007   S   7,900 D $ 64.1 184,065.2512 D  
Common Stock 02/14/2007   S   7,300 D $ 64.11 176,765.2512 D  
Common Stock 02/14/2007   S   11,500 D $ 64.12 165,265.2512 D  
Common Stock 02/14/2007   S   10,700 D $ 64.13 154,565.2512 D  
Common Stock 02/14/2007   S   8,700 D $ 64.14 145,865.2512 D  
Common Stock 02/14/2007   S   13,800 D $ 64.15 132,065.2512 D  
Common Stock 02/14/2007   S   10,800 D $ 64.16 121,265.2512 D  
Common Stock 02/14/2007   S   6,700 D $ 64.17 114,565.2512 D  
Common Stock 02/14/2007   S   2,900 D $ 64.18 111,665.2512 D  
Common Stock 02/14/2007   S   900 D $ 64.19 110,765.2512 D  
Common Stock 02/15/2007   M   69,500 A $ 22.01 180,265.2512 D  
Common Stock 02/15/2007   M   100,000 A $ 27.43 280,265.2512 D  
Common Stock 02/15/2007   S   700 D $ 63.6 279,565.2512 D  
Common Stock 02/15/2007   S   100 D $ 63.62 279,465.2512 D  
Common Stock 02/15/2007   S   800 D $ 63.63 278,665.2512 D  
Common Stock 02/15/2007   S   4,000 D $ 63.64 274,665.2512 D  
Common Stock 02/15/2007   S   3,300 D $ 63.65 271,365.2512 D  
Common Stock 02/15/2007   S   8,800 D $ 63.66 262,565.2512 D  
Common Stock 02/15/2007   S   6,500 D $ 63.67 256,065.2512 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Common Stock $ 22.01 02/14/2007   M     200,500 02/21/2002 02/21/2011 Common Stock 200,500 $ 0 69,500 D  
Common Stock $ 22.01 02/15/2007   M     69,500 02/21/2002 02/21/2011 Common Stock 69,500 $ 0 0 D  
Common Stock $ 27.43 02/15/2007   M     100,000 01/02/2003 01/02/2012 Common Stock 100,000 $ 0 340,000 D  
Stock Option (right to buy) $ 26.425             02/28/2004 02/28/2013 Common Stock 400,000   400,000 D  
Stock Option (right to buy) $ 36.58             02/24/2005 02/24/2014 Common Stock 400,000   400,000 D  
Stock Option (right to buy) $ 44.25             02/22/2006 02/22/2015 Common Stock 454,100   454,100 D  
Stock Option (right to buy) $ 53.98             02/28/2007 02/28/2016 Common Stock 475,000   475,000 D  
Deferred Stock (1) (2)               (1)   (1) Common Stock 77,789.865   77,789.865 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
REILLEY DENNIS H
C/O PRAXAIR, INC.
39 OLD RIDGEBURY ROAD
DANBURY, CT 06810-5113
  X     Chairman  

Signatures

 Anthony M. Pepper, Attorney-in-fact   02/16/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Deferred stock units accrued under the 1993 Praxair, Inc. Compensation Deferral Program as amended and are to be settled in Praxair Common Stock.
(2) Conversion to Praxair Common Stock is on a 1-for-1 basis.
 
Remarks:
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