Gas summit highlights world old prices, gas markets

Price determination remains a question for oil and gas producers in the liberalizing European market for natural gas."Will prices be set by market realities and not by the index formula?" asked Brian Hamilton, ExxonMobil Corp. manager of gas marketing, Europe, at the International Gas Summit organized by Institut Français du Pétrole, SPTEC, and Petrostrategies.Hamilton called for regulatory stability and consistency in Europe's gas market. "We need competitive markets to support a project," he said. "Is pricing being driven by oil, by gas, by interregional competition?"He also called for market liquidity. "There are two markets: liquid in the UK and oil-indexed on the contin...

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