Paris (Platts)--15May2007

The governing board of the International Energy Agency Tuesday said that
energy prices remained high and were a threat to economic growth, adding that
more attention should be paid to potential problems in world gas markets.

     "Energy prices remain high and volatile and are a particularly heavy
burden for the economy of less developed countries; geopolitical risks are
mounting; investments are soaring; capital spending is falling short of what
is needed to insure secure supply; and CO2 emissions are growing even more
rapidly," the board said in a statement issued after its biennial meeting in
Paris.

     The board called on the IEA, which has a key role in the oil market as
the official agency in charge of OECD emergency stockpiles, to take a closer
look at the gas market.

     "We also call on the IEA to advise on emergency response mechanisms and
policies for gas markets, and their potential international implication, as we
have seen an increase in the supply tension and evidence of a lack of
transparency," the statement said.