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Gas exporters to defend pricing system as courts reject oil link

Posted on 01 July 2013

The world’s biggest natural gas exporters will seek to defend linking prices to the cost of oil even after courts ruled they overcharged customers and rising output from the U.S. to Australia challenges their dominance.
Tying gas costs to oil will dominate “in the long-term” as the system provides visibility and transparency for buyers, the Gas Exporting Countries Forum said before its second summit of heads of state today in Moscow. RWE AG (RWE) said June 27 an arbitration court ruled that Germany’s second-largest utility had paid Russia’s OAO Gazprom too much since May 2010 and forced the group’s biggest producer to add links to market prices in its formula………………………………….Full Article: Source


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