The Mercury

Demand for gas increases

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Natural gas producers should boost capacity to meet rising demand for the cleanest fossil fuel but needed reliable longterm contracts with users to do it, members of the Gas Exporting Countries Forum said in Cairo yesterday. After a few years when capacity rises in exporting countries caused global oversupply and plunging prices, the market has now tightened following Japan’s nuclear power plant crisis, political turmoil in the Middle East and rapidly rising demand from new consuming countries. Many analysts say the gas glut that has blighted exporters since former major importer the US became selfsuffic­ient will soon vanish because of a dearth of new supply. – Reuters

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