Iran hosts natural gas meeting

Iran hosts natural gas meeting

TEHRAN (AFP): Ministers from 11 nations are meeting Saturday in Iran, which holds the second largest natural gas reserves in the world, to discuss ways of coordinating gas export policies.

Industry sources said the current president of the OPEC oil cartel, Algerian Energy Minister Shakib Khelil, would be among those present for the two-day meeting.

"We are going to exchange our data on the market, especially natural gas needs as well as the ways of investing in this sector," an Iranian oil ministry official told AFP.

Russia, Iran and Qatar -- respectively the top three holders of natural gas reserves -- will be joined by Khelil as well as officials from Brunei, Indonesia, Malaysia, Nigeria, Norway, Oman and Turkmenistan.

Natural gas consumption has risen sharply over the past two years, in conjunction with a steep rise in crude oil prices.