Present, international oil prices, Natural gas Prices are down, obviously. Natural gas exporting countries to seek more favorable prices, 19 of the Gas Exporting Countries Forum held its tenth ministerial meeting agreed that natural gas prices and hope to achieve Crude Linked to the price target.
But limited due to multiple factors, which linked vision can be realized to what extent, is still unknown. Meanwhile, natural gas exporting countries did not cut the program.
Gas prices facing "collapse"
2009, Europe, North America, Asia and other major markets natural gas prices, the development of shale gas in the United States, but U.S. imports of natural gas hit a new low over the past decade. Currently in the U.S. market, gas prices have been from mid-2008's per million British thermal units fell almost 14 dollars less than 4 U.S. dollars at present.
Rotating presidency of the Gas Exporting Countries Forum, Algeria Energy And Mining Minister Chakib. Khalil said during the meeting, natural gas as a clean, low-polluting energy, the price was seriously undervalued. At present, the spot market natural gas prices significantly lower than the same heat value Oil Price, which is likely to affect investment in gas production areas, resulting in market volatility may affect the future stable supply of natural gas and eventually damage the interests of consumers. Khalil said, according to energy pricing, the current price of natural gas price of crude oil is only 1 / 6.
Before the meeting, Qatar's Deputy Prime Minister and Minister of Energy and Industry Abdullah. This. Hamad. Attiyah has said that natural gas exporting countries have reached consensus that the current natural gas prices in some countries is not "fair "The market price of natural gas needed to make the right assessment. Currently, Qatar is the world's largest LNG exporter.
Algeria also claimed before the meeting, this session will turn the Gas Exporting Countries Forum, a new page in history. The main expectation is the historic part of the suspension through a resolution on the item excess capacity to increase natural gas in international markets, particularly long-term contracts in the non-free spot market prices.
To convince other gas exporting countries agreed cuts view, Algeria submitted a report during the meeting, the main contents include the world's most important natural gas through the mid-term assessment of the consumer market, re-evaluate the scale of national gas production and supply. Algeria hoped that the session will be full discussion of this report, as the basis for making accurate market forecasts and "timely" response.
"Limited production does not necessarily protect the price"
Although the participants raise gas prices for consultations with the same strong desire to see the results from the meeting, Algeria, the scale of the proposed restrictions on supply of natural gas has not been a positive response of other Member States, the reason is that the market largely constitute the complex.
Russian Energy Minister said after the forum has not discussed the proposal of Algeria, the meeting did not address any issues and steps cut ratio.
During the meeting, an important member of Russia once again emphasized that the natural gas market is limited by the geography of regional markets, natural gas transmission mode and the current long-term contract and spot market price patterns are different from the dual trading of oil, therefore, limited production does not necessarily insured. Russia, Libya and other countries officials and many industry participants believe that the Gas Exporting Countries Forum, is a member of the Internet now Communicate Information platform, similar to OPEC into that kind of policy formulation and adjustment of institutions is very difficult.
However, the meeting eventually reached a consensus? D? D members agreed price of natural gas and hope to achieve the objectives linked to the price of crude oil to the market by limiting the production of crude oil prices and other insurance policies, in the adjustment of oil prices, but also indirect effects natural gas prices.
But limited due to multiple factors, which linked vision can be realized to what extent, is still unknown. Meanwhile, natural gas exporting countries did not cut the program.
Gas prices facing "collapse"
2009, Europe, North America, Asia and other major markets natural gas prices, the development of shale gas in the United States, but U.S. imports of natural gas hit a new low over the past decade. Currently in the U.S. market, gas prices have been from mid-2008's per million British thermal units fell almost 14 dollars less than 4 U.S. dollars at present.
Rotating presidency of the Gas Exporting Countries Forum, Algeria Energy And Mining Minister Chakib. Khalil said during the meeting, natural gas as a clean, low-polluting energy, the price was seriously undervalued. At present, the spot market natural gas prices significantly lower than the same heat value Oil Price, which is likely to affect investment in gas production areas, resulting in market volatility may affect the future stable supply of natural gas and eventually damage the interests of consumers. Khalil said, according to energy pricing, the current price of natural gas price of crude oil is only 1 / 6.
Before the meeting, Qatar's Deputy Prime Minister and Minister of Energy and Industry Abdullah. This. Hamad. Attiyah has said that natural gas exporting countries have reached consensus that the current natural gas prices in some countries is not "fair "The market price of natural gas needed to make the right assessment. Currently, Qatar is the world's largest LNG exporter.
Algeria also claimed before the meeting, this session will turn the Gas Exporting Countries Forum, a new page in history. The main expectation is the historic part of the suspension through a resolution on the item excess capacity to increase natural gas in international markets, particularly long-term contracts in the non-free spot market prices.
To convince other gas exporting countries agreed cuts view, Algeria submitted a report during the meeting, the main contents include the world's most important natural gas through the mid-term assessment of the consumer market, re-evaluate the scale of national gas production and supply. Algeria hoped that the session will be full discussion of this report, as the basis for making accurate market forecasts and "timely" response.
"Limited production does not necessarily protect the price"
Although the participants raise gas prices for consultations with the same strong desire to see the results from the meeting, Algeria, the scale of the proposed restrictions on supply of natural gas has not been a positive response of other Member States, the reason is that the market largely constitute the complex.
Russian Energy Minister said after the forum has not discussed the proposal of Algeria, the meeting did not address any issues and steps cut ratio.
During the meeting, an important member of Russia once again emphasized that the natural gas market is limited by the geography of regional markets, natural gas transmission mode and the current long-term contract and spot market price patterns are different from the dual trading of oil, therefore, limited production does not necessarily insured. Russia, Libya and other countries officials and many industry participants believe that the Gas Exporting Countries Forum, is a member of the Internet now Communicate Information platform, similar to OPEC into that kind of policy formulation and adjustment of institutions is very difficult.
However, the meeting eventually reached a consensus? D? D members agreed price of natural gas and hope to achieve the objectives linked to the price of crude oil to the market by limiting the production of crude oil prices and other insurance policies, in the adjustment of oil prices, but also indirect effects natural gas prices.
International Natural Gas Prices Facing "collapse"