- Title: Qatar hosts gas exporters meeting
- Date: 17th November 2016
- Summary: DOHA, QATAR (NOVEMBER 17, 2016) (REUTERS) **** WARNING CONTAINS FLASH PHOTOGRAPHY **** OFFICIAL ENTERING CONFERENCE ROOM RUSSIAN ENERGY MINISTER ALEXANDER NOVAK ENTERING CONFERENCE ROOM PHOTOGRAPHERS TAKING PICTURES VARIOUS OF OFFICIALS ENTERING OFFICIALS THE FORUM MEETING OFFICIAL LISTENING QATAR ENERGY MINISTER MOHAMMED AL-SADA, DELIVERING OPENING SPEECH SECRETARY GENERAL OF THE GAS EXPORTING COUNTRIES FORUM, DR. SEYED MOHAMMED HOSSEIN ADELI, LISTENING VARIOUS OF QATAR ENERGY MINISTER MOHAMMED AL-SADA DELIVERING OPENING SPEECH OFFICIALS POSING FOR A GROUP PHOTO PRESS CONFERENCE IN PROGRESS (SOUNDBITE) (English) QATAR ENERGY MINISTER, MOHAMMED AL-SADA, SAYING: "I think they will always be connected, not only oil and gas, but other forms of energy. They interact with each other, they influence each other. Though there are different mechanisms, if you like, with regard to contracts, spot, short term, long term, etc. But the connection is always there and I think they will always remain there." REPORTER ASKING QUESTION (SOUNDBITE) (English) QATAR ENERGY MINISTER, MOHAMMED AL-SADA, SAYING: "The shale gas in the U.S., same as shale oil in the U.S., are being considered really a game changer, but the gas is entering the market, currently most of the U.S. gas is being consumed domestically, but gradually it's entering the international market, which will link the energy price more and more. But the US production is gradually being accommodated." SIGN READING "GECF" (SOUNDBITE) (Arabic) QATAR ENERGY MINISTER, MOHAMMED AL-SADA, SAYING: "In terms of the true prices, there is an increase in production over the coming years. This will put pressure on prices, but just as anything else, it will eventually reach equilibrium. We expect that to happen in the coming few years." CONFERENCE IN PROGRESS
- Embargoed: 2nd December 2016 15:21
- Keywords: Qatar Doha Gas energy forum conference
- Location: DOHA, QATAR
- City: DOHA, QATAR
- Country: Qatar
- Reuters ID: LVA00158U1MXH
- Aspect Ratio: 16:9
- Story Text: The 18th Ministerial Meeting of the Gas Exporting Countries Forum convened in Doha on Thursday (November 17), where changes and developments in the gas markets and the energy industry are being discussed.
In his opening speech at the forum, Qatar's energy minister, Mohammed Al-Sada, said the meeting is being held at a time of transition for the industry.
But he pointed out that changes in the gas market are linked with changes in other energy markets.
"I think they will always be connected, not only oil and gas, but other forms of energy. They interact with each other, they influence each other," he said.
One of the challenges facing natural gas is the U.S. production of shale gas.
Al-Sada said this will be a growing factor as Washington begins exporting more.
"The shale gas in the U.S., same as shale oil in the U.S., are being considered really a game changer, but the gas is entering the market, currently most of the U.S. gas is being consumed domestically, but gradually it's entering the international market, which will link the energy price more and more. But the US production is gradually being accommodated," he said.
In terms of overall gas production, Al-Sada said that it's on the rise. And this will have an effect on prices, but it is expected to settle.
"In terms of the true prices, there is an increase in production over the coming years. This will put pressure on prices, but just as anything else, it will reach eventually reach equilibrium. We expect that to happen in the coming few years," he said.
The Gas Exporting Countries Forum is a group of 12 gas producing countries. Between them, members hold 67 percent of the world's proven natural gas reserves.
The forum is headquartered in Qatar, the world's largest exporter of liquefied natural gas.
Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, United Arab Emirates and Venezuela are the 12 members of this assembly and Azerbaijan, Iraq, Kazakhstan, the Netherlands, Norway, Oman and Peru participate as observers in the forum. - Copyright Holder: REUTERS
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