Polish shale gas production may start in 5 yrs-report
reuters.com
WARSAW | Sat Aug 20, 2011 5:22am EDT
WARSAW Aug 20 (Reuters) - Large scale shale gas production in Poland could start in five years, earlier than expected, Lane Energy head in Poland Kamlesh Palmar told Rzeczpospolita daily on Saturday.
Palmar added Lane Energy, which holds shale gas licences in northern Poland, will know more about potential scope for production on its fields in November after results from current test drills.
However, Palmar added it is still too early to estimate potential profitability of unconventional gas production in Poland, a key factor for wider investments in the sector.
So far analysts and government officials were rather cautious in naming dates for shale gas production in Poland, expecting it to start in 8-10 years from now.
According to a recent study by the U.S. Energy Information Administration, Poland's technically recoverable reserves of shale gas are the biggest in Europe at an estimated 5.3 trillion cubic metres.
Major oil and gas companies mainly from the United States including Chevron and Exxon Mobil , as well as local gas monopoly PGNiG , have bought licences to search for unconventional gas in northern and eastern Poland. (Reporting by Patryk Wasilewski; editing by James Jukwey)
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