around the clock this is counting the cost on al-jazeera look at the world of business and economics this week as the death toll rises the economic cost of the coronavirus is being felt in every market in the world oil prices have tumbled prices. we have an exclusive interview with the general secretary of the gas exporting nation. a few $1000000000.00 spent trillions of dollars later from new york. we look at the economic cost of rising sea levels. the extraordinary risks in peru taking to bring in the cash. death toll from the coronavirus keeps on rising it's not only crippling china's economy it's having a knock on effect globally formula one's race in shanghai has been postponed and this is. as mobile world congress half

a global way in barcelona has been canceled or oil prices have tumbled 20 percent below that january peaks raising the prospect that opec could cut production again it's not only opec that feeling the pinch china has also turned away gas tank is slashing gas prices in half and just like oil there's a glass of gas on the market yet unlike opec there's no collective resolve to control prices but over the last 2 decades a group of 12 gas exporting nations have been working to break the link with oil prices right now 34 percent of gas is traded on the markets but despite controlling 70 percent of the world's reserves they're no closer to using that economic muscle to control prices and his the reason why gas is seen as such an important mix in global trade while hydrocarbons like oil will see a decline in use over the next few decades l.n.g. is seen as an interim solution to our dependence on crude oil problem is big

produces like australia or united states and norway don't take the form seriously because has yet to carve out a role the gas exporting countries form is based in doha and its general secretary is the foreman russian energy minister i caught up with that year recent urine and began by asking about the impact of the corona virus 1st of all i would like to express my sincere condolences with the people suffering from this disease in china a confident. it's a great prejudice from my point of view and of course we should a speedy recovery for the ones who are infected i see of the international community and specifically chinese government started struggling against the disease of course from because of the g c of confidence them. struggle speaking about the world global trade ellen. trade natural gas to date of

course we feel that this edition impacts negatively but i think that this is again a temporary vent and i hope that this disease won't have global complications it already isn't it because china is saying it's not going on a contract exactly this is a forced measure situation any contract between say a lot of buyers have got the special clause which is called force measure that this some events and maybe city ations which are out of the influence of participants of the parties of the contract but the good. i think that this is a temporary situation because fortunate life. hasn't stopped and people will continue leavin will continue to use and will continue concealment and will everything will continue from my point of view of course some delays maybe

some past bornemann and so on so forth but speaking about me personally i don't like to exaggerate the city ation negatively. on that to her friend we should solidify our efforts and we should strengthen our stance is. confronting these challenges in order to meet this challenge a sense to overcome the situation and the prices are less than half what they were a year ago what kind of pressure does that put on produces could if there is a great pressure on the other hand speaking about natural gas trade you see the 2 thirds of. contacts between producers and sellers and buyers from the other side this is the contracts that elated to the so-called oil and oil products index. asian it means

a. natural gas producers are protected from this point of view because there's a reverse side of that metal. low prices high prices the amount of investments in the upstream in the midst in which is crucial of crucial importance for producers fortunately the lower dimension 2 thirds of our contracts a long term contracts with oil and oil products in the station spare sir speaking about one thought of the products that this contracts at the spot contracts short term contracts we see will be tennis that bias for the time being but i insisted to increase the amount of short term contracts and. interested in heaven sport prices but this is this edition of rather. i can say we see here some equilibrium or says something like these but this is

a temporary one from our point of view and as far as united states concerned because they are not part of the g c e c f n a little israeli problem exactly it's not the problem we tried to establish the bridges with both countries with gas producers we do that through different international for us and congress isn't exhibitions g.c.f. is in white it on the regular basis by the organizers so we have got an opportunity to exchange views with them. not only through the mentioned international. photosynth existence but i mentioned for example g 20 the united states today are both countries g 20 members so this is an opportunity for us to discuss methods of mutual concern more of that there's another phenomena. witnessed recently that the stimulus meant of the east mediterranean gas forum his father say no way. the

participation as an observer of the united states so it means that. companies are present and. interested in having regular contacts when we look at what the scientists is saying that needs to be done to stop catastrophic global warming then then then reliance on gas will diminish as time goes on how you preparing for that and we are completely convinced that the quick us than the most efficient of the quickest reply response to the climate change that is the extended it to lizzie sion of natural gas as of the mostly a most friendly environmental fuel i don't like to call it forssell fuel but that this is really a fossil fuel exactly exactly but that this is the more than the bottom mentally friendly force of fuel and that this is of the quick and the the quickest response to this challenge i mean climate changes and struggle against climate changes this

is our idea and one more can i just interrupt you just very briefly the last point the research group the global energy monitor said that the proposed tripling of global l.n.g. capacity risk risks in introducing decades of emissions of methane a potent and difficult to monitor greenhouse gas which is that odds with the parents agreement. we started specific goal is some out of scenarios connected with the usage of. the hydro gen. as a part of the future natural gas mix through hydrogen technologies will be able to reduce drastically of the myth the food off of the whole nature will give us a value chain or chain of production so this is for the time being one of the core. activities. or. i can say

methodists of our specific scientific interest i participated to recently in some international global discussions devoted to the deliberation of hydrogen and hydrogen technologies in connection with natural gas with methane and they're completely promising and that's why i made this statement the g 20 give it enough ministers of a college and energy in japan last year in june i stressed specific on the blue eyed little jim technologies on the basis of natural gas so in spite of character of natural gas there are if you ever write of opportunities how to make it carbon less. more or less harmful and more useful for for the community which is ensuring thank you very much you're welcome thank you for. not warming oceans in that melting ice caps could cause sea levels to rise by more than

a meter by the end of the century and that would effect into space up to 680000000 people living along the world's coastlines the u.k.'s national oceanographic center projected that flooding from rising sea levels could cost $14.00 trillion dollars worldwide annually by 2100 the united states will need to spend $400000000000.00 over the next 20 years to improve its flood defenses new york is considering spending more than $100000000000.00 on a storm barrier to which president trump tweeted it's a costly foolish and environmentally unfriendly idea the world bank believes every dollar spent on sea defenses can yield between $7.00 to $10.00 by preventing costly damage well in today's you're is planning to spend more than $30000000000.00 on moving the capital because g. cancer is sinking at an alarming rate 90 percent of the city could be submerged by 2050 a 100 reports now from jakarta. around 4000000 people live in water

on the north coast of jakarta many stay in unsafe buildings and partially submerged streets like this is the water has had to raise the foundation of her home because of the high tides and rain that of course flooding in the area and that's because part of indonesia's capital sinking of our own the land and sea used to be the same level unlike now then they started building hotels and that's led to flooding we keep trying to raise our land higher but water keeps coming in. under water digging and growing development is causing the land to sink in jakarta bay as water is pumped out the ground gradually subsides only 60 percent of jakarta's population has access to a piped water service which means many have to use wells flooding is also common especially during the rainy season some of the rivers that run through the city are unable to drain water in 2017

a powerful deluge hit more about or destroying hundreds of homes. when the wall broke i heard a noise like an explosion water came in like a little tonight my husband was pushed by the watch and broke his collarbone we had to rebuild everything. parts of north dakota have sunk by up to 20 centimeters a year and several areas along the coast below sea level this mosque couldn't be salvaged now left lying hof submerged the government has since built defenses to protect the city's coastline but they're also sinking into the mud. this is done. by the government to prevent the sinking with sea water is still seeping through the cracks and many here say that without a long term plan to cause or could be lost in the coming years. and parts of a sea wall collapsed last month adding further pressure. authorities have also tried to enforce restrictions on extra. in water and new pumping systems experts

say it's not enough to save parts of jakarta from going under water fast response. against the sinking and of flooding and then but it is like a pen killer only so we need to find a cure for a real. subsidy to do grown what i've put basin. so we asked for what the better water management to the government all the while sea levels are still rising because of climate change and many here in jakarta say they have nowhere else to go. here mohammed al jazeera jakarta. well joining us now from london is. she's the head of adaptation research at the grantham research institute on climate change and the environment welcome to the program so we definitely have for

a fact sea levels rising here and tens and hundreds of millions of people are exposed tell us more about what coastal communities face and the impact on people and the economy. yeah well thank you very much for having me it's a pleasure talking to you about this climate change it's really the defining issue of our generation and we see this not there's a distant threat as maybe we used to do a couple of years ago because it is now now real and we can see this happening around us we can see the impacts. coastal areas are particularly exposed not just because of sea level rise but also of other challenges so water usage also the fact that a lot of coastal cities particularly megacities at the moment we have around half of them half of all the global mega-cities are and coastal areas so these are

massive and still growing. size where people live where the livelihoods are and these are exposed from sea level rise and rather more easily they're exposed that means right now as displacement and so to. well this this depends how well we're getting our act together really i mean we still have a good chance to actually deal with the causes of climate change and all the commitment that we're hearing at the moment around net 0 carbon that needs to be seen in the context of keeping the impacts at bay and manageable but even if we would achieve what we are currently committed to under the paris agreement which are says that we want to aim towards keeping temperature rise up to 2 degrees warming by the end of the century even if we would do that we're still set for sea level rise between $30.60 centimeters by the end of the century and that might

sound not significant but it is pretty significant it is much accelerated compared to what we've seen in the past and these are people's livelihoods that are impacted from flops in some cases it will mean that people will have to move to other areas sort of jump in there with the troubles of the kind of attention you're talking about cost trillions of dollars for an issue if you're a rich country but if you're a poor country who's going to from to book well it is a really important issue and that is part of the negotiations that we see globally how can we support particularly vulnerable countries and particular those countries who is not hat the emissions that we have caused in the developed world in the parser how do we support those countries and there are already significant. investment flows funds being made available but. more or less this is pledged

rather than spent so the 1st task would be to make those pledges real and deliver but the 2nd point is we shouldn't really just see this as a cost you know this is also an investment i mean a. it's a necessary investment into our future but it's also a chance to think about how we want to design a society in the future and that is very much the case often developing countries i mean people have country exposed to they they have you know ambitions they have a vision of what that future will look like and you know that is an opportunity that we need to assist them to design that and not just sort of say look you know this is a problem we cause that unfortunately you know you're going to be the one to suffer from it of course has a great deal of expertise out there not least from the netherlands lot of countries attorneys of netherlands what have we what can we learn from what they've done

there over the centuries and how they bring it forward to the the challenges and risks ahead. i mean the netherlands are an interesting case because they've really drawn the lessons from a catastrophic event this was in the 1950 s. where they had a really does suck at flood event and they've drawn the lessons they made that central to government policy they made a commitment saying this can't happen we can't have anybody dying from a flop and that became the central policy they said invest it they but they also and this is the important part they have an approach that looks at this more holistically so yes they rely on diets on the sort of pole the system that they have developed where they actually try and stop the water and manage water flow but they also look at building codes and how you build and where you build and people

really need to understand that even if you live behind it you know you can't really feel safe it needs to be sort of part of your psyche that you know what a risk is there netherlands being very low lying land so that's what we can learn from the netherlands. it's all about momentum isn't it and what to do from a mentor when you have people like donald trump saying rather disparagingly of new york's efforts to build flood defenses spending billions on projects that it's. an environmental idea what they're doing and you just pick up mops and sweet broccoli . well i think it is really important that we get not discouraged but also see that you know this is a huge opportunity it's not not just an obligation to do it but often oblique out the geisha and for future generations for us to to see the positives and the

opportunities and this and i i actually honestly believe that it's those who are blocking this and the likes of. donald trump other politicians you know they they are running out of arguments fairly soon and i think if we manage to actually build a more sort of public recognition that a this is urgent but this is also an opportunity for us to rethink how we want to try a t. to to cooperate and deal with the future and build our future and i think there is a good chance to actually get get this still reduced to let's say below 2 degrees which would still be significant but still be relatively manageable for us as a whole for india cements thanks very much indeed thank you well as our oceans warm up stops official becoming increasingly scarce along coastal areas which means

fishermen improve having to risk their lives to make a living they blame both climate change and overfishing zahra's mariana sanchez reports now from paris south of the capital. looking for crabs and scallops is not an easy job 26 year old we. nearly a minute every time sometimes 5 to 6 hours nonstop he says finding shellfish these days is difficult. the water is warmer so the crabs hide underground there's been over fishing in the past 3 years we haven't found any squid around here. the bay of lima is an area protected for its diversity fisherman are assigned a part of the bay where they can hand pick each shellfish especially scallops but now the surface trucked in wheat consuming more time in catching and cleaning before they can be sold after 40 years farming shellfish says the richness of this

bay is being lost. over fishing in the change of the water temperature as to form the natural banks the industrial activity around here also increases and is warming up the water it's a series of reasons for this bank to be scarce but it is coast is among the most productive fishing areas in the world more than $70000.00 families depend on fishing they produce at least 65 percent of the fish consumed in the country large scale industrial fishing is also taking a toll on small fishing communities these fishermen go out at sea for days. for hours but unlike years before now they don't know if they'll arrive here at the port with enough fish or shellfish to make ends meet that's why fishermen are putting extra pressure on themselves alexandra hamas afford a decompression accident that left him with permanent muscle damage fatigue spiegel says they have no option but to dive deeper. we often risk decompression because

sometimes we feel we have to run back to the ports or products so we get anxious and come to the surface faster so now we risk more and sell less. that is fishing. the ministry says it will implement vigilant committees to supervise the quality and amount of seafood harvested in the poor people turn to fishing indiscriminately as a quick solution to providing a livelihood their chance to make money for impacts on the most superficial starts so that's why more divers are risking no more accidents which are now frequent many academics say the effects of climate change on the fish and shellfish stocks is still under investigation but his government is fast tracking regulation of fishing and shellfish gathering but already the small scale fishermen say it is much harder and dangerous to make a living. and with that is our show for this week if you'd like to comment on anything you've seen you can tweet me at

clark is the address please use the hash tag a j c c or just dropped an e-mail account of the cost. is the address for about one more for you online. call c.d.c. and that will take you straight to our page which individual sports link. you to catch up on. i mean clock counting the cost thanks for joining us the news on al-jazeera is coming. the latest news as it breaks down for the president is just finished reading down to the end of the transition period but it's just begun with details coverage due in studies that show that around 30 percent of people in conflict zones are likely to suffer from some form of mental illness from around the world the government here has said only essential workers will return to the others not for another week

at least. the quick outgrows of togo. defenseless against the winds have been indifferent to international market place. chocolate and political activist on a mission to establish a co-operative to make and sell chocolate on their own terms. even manpower. a taste of independence on al-jazeera. i cannot my phone with my face you can access your bank account with your voice unique algorithmic measurements of us that are revolutionizing the process of identification but biometrics are far from perfect convenience and seeming infallibility comes at a cost most crucially our privacy. and the 4th of a far far series i don't rate addresses the appropriation of our most personal

characteristics all hail the algorithm on a 0. hello i'm daryn jordan in doha with the top stories here on the al-jazeera the death toll from the corona virus in china has now passed 1100 province the epicenter of the outbreak reported 93 new deaths well in the last few hours the head of a major hospital in the capital has also died after contracting the virus across mainland china meanwhile more than 1100 new cases were confirmed on monday al-jazeera katrina you is in beijing with more on the latest eps the government is taking to contain the virus for china it seems to be a mad rush to make sure that every case of corona virus is identified and use it is treated and we've seen the way.