Qatar enters exchange race

Qatar will vie with Dubai to establish the Middle East's first energy futures exchange, after announcing the launch of the International Mercantile Exchange (Imex). The new exchange is likely to introduce a contract for liquefied natural gas (LNG), although Imex officials are as yet non-committal about what type of contracts will trade. Qatar has the third-largest natural gas reserves in the world behind Russia and Iran.

"The hydrocarbon wealth is here, yet the prices are set in New York, Lon