Shale gas: Good news for Poland, bad news for Gazprom and the greenies

Bad news for Gazprom and the greenies - and the French and Bulgarian governments (who have made the incredibly stupid decision to ban shale gas exploration):


There is no need for new legislation to regulate shale gas exploration in the European Union, according to a study published Friday that proposed the bloc adopt a low profile on the controversial issue.
The study, carried out by a consultant and authorized by the European Commission, the EU's executive body, says that existing legislation on exploration and production of fossil fuels, chiefly designed to guarantee safety and to protect the environment, can apply to both conventional and unconventional gas.

"The legal study confirms that there is no immediate need for changing our EU legislation," Energy Commissioner Günther Oettinger said in a statement. "We take environmental concerns seriously and will continue to monitor the development of shale gas extraction in the EU."

Good news for Poland:

A study by the European Union's Directorate General for Energy, concluding there is no need for new legislation to regulate shale gas exploration, is a good signal to markets, Polish Treasury Minister Mikolaj Budzanowski said Friday.

(Poland, which intends to get rid of its dependence on Russian gas, may have enough shale gas to meet its needs for 300 years, according to a U.S. Department of Energy estimate published last April.)

Lithuania and Ukraine join Poland in the shale gas revolution

Fortunately, not all East European countries are - like Bulgaria - prepared to give in to pressure from Russia and the greenies. Ukraine and Lithuania are ready to join Poland in the shale gas revolution in order to end their dependence on Russian gas:.

The Polish oil company Lotos says it will start prospecting for shale gas in neighbouring Lithuania, which wants to break the current monopoly held by Russian giant Gazprom.

Experts say Lithuania may have sufficient reserves of gas trapped in shale -- sedimentary rock containing hydrocarbons -- to cover its needs for between 30 to 50 years.


Read the entire article here


Also a domestic Lithuanian oil producer is going to invest in shale gas:

Minijos Nafta UAB, a Lithuanian oil producer, plans to invest 10 million litas to explore shale gas in the west of the Baltic nation, LETA/ELTA reports, referring to Bloomberg.

The company, which has a license to search for shale gas, plans to drill its first exploration well this year, the Gargzdai-based company said today in a statement on its website.

Read the entire article here

Ukraine´s Energy and Coal Industry Minister Yuriy Boiko says that his country plans to produce 10 -15 million cubic meters of shale gas in five years:

Ukraine will be able to produce 10-15 billion cubic meters of shale gas in five to seven years, Ukrainian Energy and Coal Industry Minister Yuriy Boiko has said live on Inter TV Channel. He said that these figures were based on the relevant experience of other countries.
The minister said that three companies would participate in an auction to obtain licenses for geological exploration and shale gas production at the Oleska and Yuzivska areas. As for the environmental component of shale gas production in Ukraine, the minister assured that he did not expect any threats. "We have studied U.S. experience in this matter and we have not seen any environmental threats," Boiko said.

Read the entire article here

Shale gas: Bulgarian government caves in to pressure from Gazprom and greenies

The government of Bulgaria appears to work hard in order for the country to retain its position as the poorest country in the European Union. Otherwise it is difficult to understand why the center-right coalition has decided to cancel a shale gas exploration permit it had granted to Chevron last May. In addition, it is reported that it is preparing a ban on hydraulic fracturing.

Bulgaria´s former masters in Russia - and the greenies, who oppose all reasonable energy projects - must be smiling.