Wednesday 9 December 2009

Qatar emir calls for gas and oil price alignment

The emir of Qatar, Sheikh Hamad bin Khalifa al-Thani, on Wednesday called for the alignment of gas prices with oil prices at the opening of a forum of gas exporting countries.

"The increase experienced by the oil price this year has not been followed by an improvement in gas prices, and we hope that this will only be temporary," the emir told the Gas Exporting Countries Forum.

"It is necessary to work to restore the correlation between the price of oil and gas, and the decisions taken by this board must be equal to our ambitions," he added.

Gas prices collapsed late last year in line with oil, which plunged from a high of around 147 dollars per barrel to 37 dollars before stabilising at around 75 dollars this year.

The one-day forum in Doha brings together a dozen countries including Russia, the world's largest gas producer, as well as Algeria, Iran and Venezuela.END

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