En Español



Very usefull links



PW
Bookstore





News links

AP

AFP

Aljazeera

Dow Jones

Oil price

Reuters

Bloomberg

Views and News
from
Norway

 

 

 

 

Summit GECF: No gas glut, market needs competition - Head of gas exporting group

 

 

By Alexandra Alper

SANTA CRUZ, BOLIVIA
Petroleumworld 11 22 2017

The Gas Exporting Countries Forum (GECF) sees no glut of natural gas in the global market and said competition is needed, the head of the organization that gathers the world's largest producers said on Tuesday during a meeting in Bolivia.

“If you compare production to consumption, you would see that production is not overwhelming the consumption,” said the secretary general of the forum, Sayed Mohammad Hossein Adeli.

The gathering of top natural gas exporters including Qatar, Iran, Russia and Venezuela is expected to discuss pricing methodologies during its meeting this week, which will also include a ministerial conference and a meeting of gas producing company chief executives.

The world's consumption of natural gas grew about 1.5 percent in 2016 to reach some 3.54 trillion cubic meters (TCM) driven by unconventional gas production, according to BP's statistical review.

Hossein said that natural gas consumption was expected to grow 2 percent this year, primarily driven by strong demand in Europe and Asia.

The secretary general called for competition in the gas market. “In the energy market competitiveness is very important. If there is low competition, then the market will not be able to function well.”



Story by Alexandra Alper; Writing by Gary McWilliams and Marianna Parraga Editing by Marguerita Choy from Reuters.

reuters.com 11 21 2017

We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels


 

TOP

Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.