Gas prices unlikely to converge soon: Petronas CEO

摘要

Bali, Indonesia—Global gas markets are far from becoming integrated and are unlikely to see a price convergence any time soon, according to the President and CEO of Malaysia’s state-owned Petronas, Shamsul Azhar Abbas. In a keynote speech October 11 to the GASEX conference in Bali, Abbas said Europe, US and Asia are still distinctly individual markets and maintain their own price structures. “Global energy has yet to reach the stage of gas-to-gas competition ... even with the growing LNG trade from North America to Asia, a possible convergence of prices still remains questionable as the costs of developing these unconventional resources have yet to be taken into account,” he said.