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Gas exporters back oil-index linked contracts

A top priority for the 12-member Gas Exporting Countries Forum is linking gas prices to oil-indexed prices A top priority for the 12-member Gas Exporting Countries Forum is linking gas prices to oil-indexed prices.
By Ahmed Mehdi 16 November 2011 Middle East & Africa / Supply & Demand 0 1884
GECF Secretary General, Leonid Bokhanovsky, said the group has no intention of manipulating prices. (PA)

A joint declaration published by the 12-member Gas Exporting Countries Forum (GECF) in Doha on Tuesday said that producers need to narrow the gap between spot gas prices and oil-index linked contract prices without trying to limit production.

"It is illogical that discrepancies between oil prices and gas prices increase," Qatar's Emir Sheikh Hamad Bin Khalifa al-Thani told the forum on Tuesday at the end of the summit.

Prominent members of the GECF Russia, Qatar and Algeria, all insisted that the only way to ensure stability and...