AP Interview: Poland To Press On With Shale Gas
The first commercial shale gas in Poland is expected to be produced on a small scale in early 2015. Shale gas will likely become a major energy source for Poland by 2020, but coal which Poland is rich in will remain the main source for another 50 years while technology efforts will focus on reducing carbon gas emission, Budzanowski said.
Some 35 exploratory shale gas wells have been drilled so far, but the findings are "not always exciting," Poprawa said. More than 100 wells are needed for an assessment of the deposits.
In the United States, production of shale gas has brought down gas prices on the U.S. domestic market to under $100 per 1,000 cubic meters, about a third of what gas costs in most of Europe, where the chief provider is Russia. Moscow charges Poland above the European average thanks to a contract between the two countries that dates back to 1993.
Regarding environmental concerns, Budzanowski said Poland's mining and research institutes should be involved in developing new, environmentally-friendly forms of shale gas extraction that could be also used in other countries.In France, Germany and Bulgaria, environmental concerns were behind recent decisions to block or suspend exploration for shale gas. But countries like Russia or China are pursuing shale gas programs.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV