Qatar urges gas price link to oil markets

AP News
Posted: Nov 15, 2011 7:47 AM
Qatar urges gas price link to oil markets

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.