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Qatar Wants To Link Gas Prices With Oil

Tue, 11/15/2011 - 5:25am
Manufacturing.net

DOHA, Qatar (AP) -- Qatar's ruler says gas-producing nations should seek a pricing system linked to oil markets as a way to promote greater use of the fuel.

The Gulf nation's emir, Sheik Hamad bin Khalifa Al Thani, opened a meeting of natural gas exporters Tuesday by urging for a system to index gas prices to oil. Supporters say it would offer greater consistency in fuel costs and end imbalances when oil prices fall.

The one-day gathering is the first high-level strategy session for the 12-nation Gas Exporting Countries Forum, which includes giant producers such as Russia, Qatar and Iran.

The leader of Libya's transitional government, Mustafa Abdul-Jalil, also attended. Iran's president, Mahmoud Ahmadinejad, had been expected, but was a no-show.

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