Middle East

Gas ‘undervalued’

Gas, viewed by many as a fuel for the future because it produces relatively few carbon emissions, is undervalued compared with oil, Qatar Energy Minister Abdullah Al Attiyah said.

“Today I feel unhappy and disappointed,” he said at a conference in London of the gas price.  “The world has underestimated the value of gas. This is unfair, especially since we’re selling such a high quality product.”
For gas the closest to a global benchmark is US Henry Hub futures. They have averaged around $7 this year, according to data, around steady with prices last year, but lower than in 2005 when the average was around $9.