Qatar unfazed by shale gas growth - The National

Qatar has refuted concerns that the North American shale gas revolution will flood the world markets with liquefied natural gas (LNG) and bring down prices.

"The US has need for energy themselves," said Hamad Rashid Al Mohannadi, the managing director of RasGas, one of the state-controlled gas producers in Qatar, at a conference in Malaysia yesterday. "I don't see the US exporting large volumes of LNG"

New techniques to extract natural gas from shale rock formations have dramatically increased the supply in the US and Canada, and brought down prices to only US$1.90 per million British thermal units (mBtu) on the New York Mercantile Exchange, the lowest in more than 10 years.

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