Gas Tenth Ministerial Forum exporting countries 19 at Oran in Algeria’s second largest city. In the context of oversupply, the world’s leading natural gas producers are seeking closer Cooperation , Hope to be like Oil OPEC (OPEC) as a favorable price for the seller. But analysts believe that multiple factors due to limited short-term impact of the forum difficult to show.
Difficult market price control of a complex line
Although the participants raise gas prices for consultations with the same strong desire, but failed to host the meeting and introduced the idea of Algeria’s plans to cut production, the reason is largely composed of the complexity of the market.
However, the meeting eventually reached a consensus?? Members agreed price of natural gas and hope to achieve Crude Objectives linked to the price to the market by limiting the production of crude oil prices and other insurance policies, in the adjustment of oil prices also indirectly affect the price of natural gas. But this series can be fixed ideas can be realized to what extent, what the long-term contracts can play a role, is still unknown.
Oversupply serious competition with industry International Energy Industry recognized natural gas as a clean energy has a bright future, look at the market price of long-term high. But in the current world Economy Situation still many uncertain factors, the increased number of drilling, exploration and production volume growth to promote natural gas market oversupply. The short term, the global LNG supply and demand situation is tight to the excess.
Statistics show that as countries of new LNG production projects put into operation in 2009, substantial increase in global capacity, while the current world consumption of natural gas for the first time in nearly 10 years of decline. At present, the production capacity increase in this trend. International Energy Agency in its 2009 “World Energy Outlook,” said the next few years global surplus of natural gas supply will be greatly.
Oversupply caused prices to export the country was forced to increase production to maintain profit levels, but also caused a new round of competition.
Sharp decline in the U.S. natural gas demand, the main supplier of Qatar, Trinidad and Tobago and other countries have joined the ranks of competition for the European market, the traditional European natural gas supplier is Russia, Norway and Algeria other countries, which means that the exporting country competition between members of the Forum will become more intense.
Proved reserves rank first in the world is increasing although the Russian gas supplies to Europe, but the increase was significantly lower than other natural gas producers. Last year proved reserves rank third in Qatar exports to Europe increased by 114%, while Gazprom’s share in the European market from the original 25% to 22%.
Organization is not perfect growth will take time
Rotating presidency of the Gas Exporting Countries Forum, Algerian Energy and Mining Minister Chakib? Khalil said during the meeting, OPEC crude oil production quotas introduced, their influence no worthy rival countries and institutions. But for the Gas Exporting Countries Forum, the United States and Australia, two important countries not yet members.
He said, as an open organization, the Forum member countries need to expand the number and geographic scope. Author Box gaga has 1 articles online
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