Economic growth is fuelling demand

Gas prices are at record levels with global demand for energy boosted by economic growth in China and India.

Faisal al-Suwaidi, head of Qatargas, warned the high prices could spark a recession in the developed world.

Qatargas is to supply up to 20% of Britain's gas starting in 2007 at the earliest, with the fuel arriving in liquid form.

The imports will come through a new terminal at Milford Haven.

Mr Al-Suwaidi said the high global prices would affect supplying nations as well as the consuming countries.