GAS PRICES AFFECTED TOO
The sharp drop in global oil prices has also caused the value of natural gas to depreciate, according to Mohammed Saleh Abdulla Al Sada, Qatar's Minister of Energy and Industry. “Energy markets are interconnected, and we can see the effects of the oil price drop affecting gas too,” Al Sada told reporters in Doha. There was already a “strong degree of conversion of gas spot prices between different regions,” he said on the sidelines of the 16th ministerial meeting of gas-exporting countries. Al Sada was upbeat about the prospects for the gas market, however, saying both supply and demand were increasing. “We believe that gas has a strong advantage not only as a source of energy but a source of a cleaner energy. And gas demand is likely to be further augmented,” he said.