This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AP Interview: Poland To Press On With Shale Gas

By Monika Scislowska

WARSAW, Poland (AP) â¿¿ Poland will likely adopt a much-awaited law to regulate shale gas production this year, opening the way for the potentially lucrative sector to kick into gear, Treasury Minister Mikolaj Budzanowski said Friday.

Poland has been the most aggressive country in Europe in pursuing shale gas, a form of natural gas that is trapped in porous shale rock and requires new technologies to extract. It has been produced in the United States since late 1990s, but environmental activists say the extraction process â¿¿ called hydraulic rock fracturing â¿¿ is highly polluting.

International and Polish companies are exploring for the gas in Poland but are waiting for the new law â¿¿ which will regulate taxes on production, terms for starting business and distribution of gas â¿¿ before they commit to a longer-term strategy.

"Foreign companies are undoubtedly waiting for the final version of the law, which should be adopted this year and take effect in 2015," Budzanowski told The Associated Press in an interview. "It will certainly give a big impulse for intensifying gas exploration efforts in Poland."

A preliminary draft of the new law, which was demanded by the European Union, calls for a combination of taxes totaling about 40 percent on financial gains made by shale gas producers. But companies say it's the details in the new law that matter. Without its finalization, they cannot plan ahead.

"Companies are slowing down work and waiting to see whether the new law, especially the tax, will leave enough commercial space," said Pawel Poprawa, an expert on shale gas with The Energy Studies Institute in Warsaw.

The government hopes shale gas will boost the economy, reduce dependence on Russian gas imports and cut energy prices. The State Geological Institute estimates Poland's shale gas deposits may secure production for at least 25 years.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,751.39 +121.12 0.69%
S&P 500 2,108.57 +15.32 0.73%
NASDAQ 5,111.7330 +22.5270 0.44%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs