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Post by Bonobo on Jun 17, 2010 14:38:21 GMT 1
This thread might become a long one in the future. Experts estimate that Poland is rich in shale gas. A dozen major companies obtained licenses to search for it. www.euractiv.com/en/energy/shale-gas-drilling-banned-france-news-503999Background
Shale gas is an 'unconventional' fossil fuel that is found within natural fissures and fractures underground. Until recently, no method of safely transporting it to the surface existed.
However, by pumping water, sand and chemicals into rock formations under high pressure via a technique known as hydraulic fracturing or 'fracking', energy companies believe they have found a part of the answer to Europe's energy security problems.
The method remains intensely controversial because of its possible environmental risks, including poisoning groundwater and higher greenhouse gas emissions than traditional gas.
To proponents, shale gas represents a hitherto untapped and welcome alternative energy source to traditional fossil fuels. At the moment the continent depends on gas imported from Russia, and disputes between that country and Ukraine have disrupted winter supplies in recent years.
In the US, shale gas already accounts for over 10% of US natural gas production and some analysts predict that could rise to 50% within 20 years. BP's former chief executive Tony Hayward has described shale gas as a "game changer".American rig in a Polish armpit village.     Shale gas - ‘Poland could be second Norway’09.06.2010 12:52 Next week drilling will start to determine how much shale gas Poland is sitting on top of, Foreign Minister Radoslaw Sikorski has revealed. “Drilling is to begin next week, but shale gas is already revolutionizing the global gas market,” said Foreign Minister Radoslaw Sikorski. “In ten-fifteen years Poland has a chance to become second Norway. Over the past two years, the Environment Ministry issued around 60 licenses for shale gas exploration in Poland, mainly to the U.S. companies, including Exxon Mobil, Chevron, ConocoPhillips and Energy Lane. The Polish Oil and Gas (PGNiG) has also received eleven licenses. American estimates show that shale gas reserves in Poland amount to a minimum 1.5 trillion cubic meters. Poland’s top geologist Henryk Jezierski believes, however, that it will take up to five years to find out how big the reserves are. It will then take between 10 to 15 years for extracting the gas to begin.  |
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Post by valpomike on Jun 17, 2010 17:53:13 GMT 1
This find could be as good as gold. Let us Amerinca's help you find it, if it is there, but don't look into the waters yet.
Mike
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Post by Bonobo on Jun 19, 2010 21:30:27 GMT 1
This find could be as good as gold. Let us Amerinca's help you find it, if it is there, but don't look into the waters yet. Mike Because it is fishing in dirty waters..... ? |
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Post by tufta on Apr 9, 2011 10:22:51 GMT 1
>US Energy Information Agency (EIA) published its report on shale gas reserves in 32 countries of the world. With an estimated 5.3 trillion cubic meters of shale gas recoverable reserves worth some US$2 trillion (€1.38tn) at current prices, Poland is the undisputed leader in Europe. According to EIA estimates, the Polish reserves may last for up to 380 years, unless current gas consumption rises dramatically. What’s more, chances for extracting shale gas in Poland are high – the EIA report puts it at 40%. In 2010, Warsaw signed an agreement with Washington and joined the US sponsored project – Global Shale Gas Initiative. It has also granted 85 licenses to search for shale gas to several companies. However, shale gas extraction stirs fear among environmentalists. “They claim that it destroys the landscape and poisons water"< wyborcza.pl/1,75478,9396872,Polska_lezy_na_gazie.html = If it all works out, and our strikingly intelligent politicians will not bring Dutch disease to us, and rather look for Norway for example how to deal with large incomes from fossil goods, I will have an occasion to live in three Polands. Youth and early aduthood in subjugated, impoverished, pauperized country with planned economy, middle age in this fine, prospering, free country, advanced aged in extremely rich and prospering free country. Thank you oh Heavens for such a place and time to live in, given to me in this strange roulette  |
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Post by tufta on Apr 9, 2011 10:31:07 GMT 1
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Post by Bonobo on Apr 9, 2011 19:43:10 GMT 1
Poland sitting on massive reserves? The European Union will probably put a ban on shale gas production due to considerable damage to the environment. France is going to declare such a ban soon. |
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Post by valpomike on Apr 10, 2011 2:11:31 GMT 1
Not to help the environment, but it could free up the Polish, from the Russians, and others, and they don't want that.
Mike
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Post by tufta on Apr 10, 2011 14:28:19 GMT 1
Poland sitting on massive reserves? The European Union will probably put a ban on shale gas production due to considerable damage to the environment. France is going to declare such a ban soon. By European Union you mean a bunch of unelected clerks in Brussels pressed by peculiar lobbies producing gas in more classical way? Surely not Poland, a part of European Union, which will not ban shale gas production in European Union. Unless it would actually be shown to destroy the Earth. |
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Post by Bonobo on Apr 10, 2011 15:06:05 GMT 1
By European Union you mean a bunch of unelected clerks in Brussels pressed by peculiar lobbies producing gas in more classical way? Yes! And we have to swallow up all their suspicious concoctions!!  |
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Post by Bonobo on Apr 24, 2011 9:38:02 GMT 1
Shale gas drilling likely to be banned in France [fr]
Published: 12 April 2011 | Updated: 13 April 2011
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The French government has backed a draft bill that would ban shale gas drilling in the country, citing fears that the extraction method is a risk to water quality. However, for other countries like Poland, shale gas has become a national priority to win independence from Russian imports. EurActiv France reports.
MPs from the ruling centre-right UMP party tabled the bill in the National Assembly using an accelerated procedure. As a result, it will only be examined in a single reading in the Assembly and the Senate.
If adopted, the text would suspend drilling permits granted in March 2010 to Total, GDF Suez, and Schuepbach Energy by former Environment Minister Jean-Louis Borloo.
A shale gas drilling ban is also supported by the opposition Socialist Party, which presented its own alternative text with the same aim.
In March, the French government had prolonged a moratorium on shale gas drilling until June.
This had followed protests opposing the drilling method, notably in the village of Villeneuve-de-Berg in southern France, with over 20,000 people voicing their opposition chanting "No gazaran!" Shale gas drilling near the town had been planned for the end of 2011.
Scientists relieved, oil business fears red tape
After the announcement of the suspension of drilling, researchers at the hydro-science centre at the University of Montpellier said they were reassured. In the event of shale gas drilling, Montpellier's region "and all the water reserves close to the drilling area would have been seriously threatened," said researcher Françoise Elbaz.
"There is always a technological risk. In going back up, the drill can release toxic gases such as the radioelements naturally contained in the rocks," she said. "And the authorities would have to cut off the water supply."
No such drilling has yet taken place in France, but researchers cite the example of the city of Pittsburgh in the United States. Elbaz says that following the use of chemicals to fracture the rock and ensure permeability, the waters of the city have reached a salinity level inappropriate for consumption.
During a presentation of his company's annual results last February, the director-general of Total, Christophe Margerie, said he was "annoyed by the noise" surrounding shale gas. He expressed frustration with excessive concern about the safety of drilling, saying "it's good to talk about the problems this can pose – if one day there are some – but today, there are none".
Margerie also raised fears that red tape could hinder production. "[If] we need to ask the authorisation to one day ask for authorisation, we're going to start falling into useless paperwork," he said.
EU to assess shale gas potential in Europe
If the law is passed, the French debate on shale gas should be closed, but the discussion continues at the European level.
Last February, European leaders agreed that "Europe's potential for sustainable extraction and use of conventional and unconventional (e.g. shale gas, oil shale) fossil fuel resources should be assessed".
A report by the consultancy firm McKinsey – commissioned by major gas giants Gazprom, Centrica and others – claimed that shale gas could meet the continent's energy needs for 30 years.
Cuadrilla Resources, a British energy company, has begun exploratory drilling near Blackpool, Lancashire. Drilling of shale gas is already taking place near Gdansk, Poland.
For certain European countries, Poland in the lead, the drilling of shale gas is seen as an alternative to Russian gas, which would allow for greater energy independence.
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Post by valpomike on Apr 24, 2011 16:28:57 GMT 1
God gave us these things to use, and use we must. It could bring down some cost, and help most everyone. I we were not sposed to use them, they would not be there. Big government just wants to control price, for all.
Mike
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Post by Bonobo on May 14, 2011 22:01:30 GMT 1
The European Union will probably put a ban on shale gas production due to considerable damage to the environment. France is going to declare such a ban soon. By European Union you mean a bunch of unelected clerks in Brussels pressed by peculiar lobbies producing gas in more classical way? Surely not Poland, a part of European Union, which will not ban shale gas production in European Union. Unless it would actually be shown to destroy the Earth. So,was I right?
Poland’s gas giant PGNiG SA fears potential EU-wide shale gas regulations following France’s parliament voting to ban hydraulic fracturing, or fracking of gas and oil could threaten the extraction of shale gas deposits in the country.
It is estimated that Poland is sitting on 5.3 trillion cubic metres of shale gas, which if extracted successfully could greatly lesson its reliance on Russian gas and oil.
But the move in the French parliament on Wednesday, and any similar ban on fracking - currently the main method of extracting shale gas - could threaten Poland’s energy security and independence, says state gas company PGNiG’s Marek Karabula.
"From information that we are getting, a push for EU-wide rules is possible. We strongly believe these matters should be regulated on a national level," he told the Wall Street Journal.
Geologist Jan Krasoñ has told Polish Radio that the French ban on shale gas extraction comes from pressure from “environmentalist and atomic sector lobbying and from [Russian gas giant] Gazprom”.
He said that France gets about 80 percent of its energy from nuclear reactors and any competition from other energy sources, such as shale gas are unwelcome.
US and other energy suppliers are lining up to explore Poland’s potentially rich supply of shale gas. Chevron plans to drill its first well later this year.
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Post by Bonobo on Jul 5, 2011 18:25:31 GMT 1
Massive shale gas reserves found in central Poland
28.06.2011 Kutno
A shale gas deposit estimated to contain some 100 billion cubic metres of gas is reported to have been located near Kutno, central Poland.
Poland's gas giant PGNiG and FX Energy are to begin work in August on searching for the shale gas, with drilling expected to reach depths of up to 6,500 metres.
"The deposit has the same parameters as the richest deposits found in Holland and the North Sea in the region of Great Britain, so countries which are the main producers of gas after Norway in western Europe," head of the research department at PGNiG, Piotr Gliniak told the Rzeczpospolita daily.
The Kutno deposit may double the amount of gas that has already been found in Poland. At present there are some 95.5 billion cubic metres of registered extractable shale gas deposits in the country.
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Post by franciszek on Jul 16, 2011 17:32:06 GMT 1
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Post by valpomike on Jul 16, 2011 20:16:01 GMT 1
We have been using coal for many years, without mother nature fighting back. Poland, as all of us, need to use any and all forms of energy, better the cheaper ones, that won't hurt anyone. He in the U.S.A. our government won't let us go after any new oil, or other types of energy sources, that they, don't control. This is the part of our president. They all, his party, want a piece of the action, or there will be no action.
Mike
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Post by Bonobo on Jul 18, 2011 15:14:45 GMT 1
Accusations fly against German shale gas assessment
15.07.2011 11:38
Polish MEPs are challenging a report drafted by German experts for the European Parliament which warns against the extraction of shale gas, an industry which Poland hopes to develop over coming years.
Poles feel that the regulations suggested by the Germans for the EU would make the extraction and so-called ‘fracking’ of shale gas unprofitable.
It is estimated that Poland is sitting on 5.3 trillion cubic metres of shale gas, which if extracted successfully could greatly lesson its reliance on Russian gas and oil.
Boguslaw Sonik, a Polish MEP from Civic Platform, has called the survey “biased”, citing that the work “could not be reliable as it was ordered from only one member state.”
Sonik professed that for economic reasons, the Germans are specifically interested in seeing that shale gas is not extracted in Poland, and therefore the findings “should automatically arouse suspicion as being an assessment made to order.”
MEP Lena Kolarska-Bobinska, also from Civic Platform, shared Sonik’s reservations, suggesting that lobbying was rife in a bid to uphold the current energy status quo in Europe.
“Extraction of shale gas will change the whole geopolitics of Europe,” said Kolarska-Bobinska in an interview with Polish Radio.
“Shale gas is needed to wean Europe off gas supplies from Russia,” she argued, noting that lobbying is “immense” surrounding the issue.
Although the German assessment will ultimately count as just one of several on the subject, it was enough to irk Polish MEPs.
Talking to Polish Radio, MEP Andrzej Grzyb from the Polish Peasants Party expounded his theory of the best way forward for Poland.
“We should say to the sceptics that Polish legislation will guarantee a modern approach to the extraction of shale gas, providing continuous monitoring of the environmental impact at every stage of the project,” Grzyb maintains.
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Post by valpomike on Jul 18, 2011 15:29:20 GMT 1
For sure, Germany would not like this, and want to stop it. They want to keep Poland down, but they can't, since, the people of Poland are the greatest.
Mike
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Post by Bonobo on Jul 18, 2011 17:27:47 GMT 1
For sure, Germany would not like this, and want to stop it. They want to keep Poland down, but they can't, since, the people of Poland are the greatest. Mike There is certainly economic rivalry between countries. Mike, you certainly wouldn`t agree for Mexico to take over American industry, would you? :)P |
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Post by valpomike on Jul 19, 2011 19:14:13 GMT 1
So what you are saying, that the Germans want to again, take over Poland, and they the Germans are like the Mexicans.
Mike
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Post by Bonobo on Jul 25, 2011 18:47:37 GMT 1
Shale Gas Shangri-La
Gra¿yna Zawada | 3rd July 2011
Is Poland on the verge of achieving energy independence for the next 300 years? This is the tantalising prospect raised by an April 2011 report on Polish shale gas deposits. Billions of z³oty are at stake in what Foreign Affairs Minister Rados³aw Sikorski has called: “the gold rush of the 21st century.” Some of the most deprived parts of southern Poland are now firmly in the sights of global energy giants, but what will this mean for our region?
April 8, 2011 may become a red-letter day in the history of Poland. This was the date of a US Energy Information Administration (EIA) report on shale gas deposits in Europe that included the assessment that Poland has the largest and most-easily accessible reserves on the continent. If the minimum of three trillion cubic metres of shale gas that the EIA believes lie deep beneath Poland can be found and extracted, it will mean billions of z³oty for the Polish economy and potential energy independence for centuries.
Anticipating the findings of the EIA report, Prime Minister Donald Tusk said in March that the government is determined for shale gas excavation in Poland to become a fact and to make the search for independent energy sources a priority. Supporters are calling shale gas an ‘energy revolution’ and pushing for the utilisation of every cubic meter of shale gas available. The so-called ‘blue gold’ has kindled hopes for energy security and wealth for many.
Shale gas is a form of natural gas trapped in fine-grained sedimentary rock. Natural gas has been extracted from shale for decades, but most shale deposits are insufficiently permeable for conventional extraction methods to produce commercial yields. However, rising natural gas prices and advances in mining technology have made shale gas an increasingly attractive prospect for energy companies. Increasing shale gas extraction has revolutionised the energy market in the United States over the past 20 years. In 1996 shale gas made up less than two per cent of total US natural gas production. This reached 14 per cent in 2009 and is projected to reach 45 perc ent by 2035. The US experience has created a global burst of enthusiasm for shale gas, not least in energy-hungry Europe.
US energy companies are world leaders in shale gas extraction. The process involves drilling vertical bores with multiple, deep horizontal bores branching off. A mixture of water, sand and chemicals is injected into these side bores under high pressure to loosen the rock’s structure and release gas. This process, known as hydraulic fracturing (or ‘fracking’) has become highly controversial following claims that it risks contaminating ground water or even triggering seismic events.
Gasland, a 2010 documentary directed by US filmmaker Josh Fox, investigated claims of environmental damage caused by fracking across the United States and claimed to have uncovered numerous examples of health problems or ground water contamination. In the UK, test drilling for shale gas was suspended in June this year to allow an investigation to take place into the possibility that it had caused two small earthquakes on the Lancashire coast.
Given that the cost of just one shale gas well is more than 40 million z³oty, and the effective exploitation of just one concession requires around 60 wells, the millions of dollars that US companies such as ConocoPhillips, ExxonMobil, Chevron and Marathon Oil can invest in Poland will be most welcome. Turning to the Americans, however, brings a geopolitical headache. Russia has long regarded Poland as within its economic sphere of influence and Moscow is less than happy that Warsaw is looking west rather than east for help. American companies have already crossed Gazprom’s plans for expansion in Norway and Azerbaijan and the Russian Minister for Natural Resources, Yuri Trutnev, has called shale gas “a problem.” Russia’s Gazprom, the biggest natural gas producer in the world and the owner of one sixth of known global gas deposits, has tried to downplay the importance of shale gas in the past, but has recently joined the rush to find its own.
Poland’s shale gas deposits can be found in a belt running diagonally across the country, from Zamo¶æ in the south east to S³upsk in the north west. The Polish Ministry of the Environment has issued almost a hundred permits for shale gas test wells, most to foreign companies. The first bores in the Pomorze region have produced promising results. The area would be a good place to start, given its existing gas distribution infrastructure and energy-hungry industry. However some villages near the seaside resort of Ustka are not happy at the perspective of a shale gas Shangri-La in their backyards and have voted against drilling in the area. “The River S³upia is a favourite for fishermen from all over Poland, many local families make their livings from agritourism and many people have moved here to escape the city and industry. No wonder they will never agree to shale gas,” said Bogdan ¯abiñski, head of seaside village Niestkowo.
Villages across Poland have been protesting about the possible negative impact of shale gas extraction, especially in the light of concerns raised by Gasland and media reports. According to Poland’s head geologist, Henryk Jezierski, all threats to the natural environment will be taken into consideration before issuing actual concessions for commercial shale gas extraction.
Large parts of potential shale gas extraction areas in Poland are either densely populated or within environmentally sensitive areas protected under the EU’s Natura 2000 program. At the present time, Polish law has little to say about unconventional gas extraction techniques and there are no provisions for tax breaks for extraction or exploration operations. Nevertheless, the race has begun. Norwegian advisory company Rystad Energy AS estimates that Poland will have 330 test wells within five years. All major laboratories in Poland are already busy testing tens of thousands of samples.
“All current calculations are based on statistic estimates. To see if there really is any obtainable shale gas in Poland we need to obtain samples from test bores and determine rock hydrocarbon saturation in laboratories. Obtaining and analyzing an appropriate number of samples is both expensive and time consuming – the first results will be known in several months. An economical assessment will follow,” said Prof. Stanis³aw Rychlicki, CEO of the Polish Petroleum and Gas Mining Industry board. Shale gas extraction on a minor scale may be happening in Poland with four years, but large-scale production and utilisation is at least a decade away.
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Post by Bonobo on Mar 23, 2012 1:06:54 GMT 1
This thread might become a long one in the future. Experts estimate that Poland is rich in shale gas. Or not? Official - up to ten times less shale gas in Poland than estimated
21.03.2012 14:23
The Polish Geological Institute estimates that Poland is sitting on around ten times less shale gas deposits than originally thought, a statement by the institute concludes, Wednesday.
The institute says that estimated deposits range from 346 to 768 billion cubic meters.
Earlier US estimates speculated that there were 5.3 trillion cubic meters.
The institute says, however, that if shale and conventional gas deposits are put together, then Poland is sitting on enough energy to meet between 35 to 65 years of domestic demand.
“Total gas reserves [including conventional gas] put us in third place in terms of recoverable gas in Europe," said Chief National Geologist Piotr Wozniak.
The discovery of shale gas deposits is important for Poland’s strategy of weaning itself off dependency on Russian gas imports.
Currently, Poland relies on Russia for about 70 percent of its annual needs of 14.4 billion cubic meters of gas.
Wozniak also announced the presentation in Parliament in the second half of April of a draft law that will guarantee new taxation mechanisms and management of hydrocarbon production.
Tapping potential
The American Embassy in Warsaw immediately put out a statement, Wednesday, saying that: “the estimate released today by the Polish Geological Institute is an important step in refining the understanding of Poland’s energy potential.”
American energy giants such as Chevron and Exxon Mobil Corp.are among companies eager to tap into shale gas in Europe and China.
“In the United States there has been a similar process of improving and revising our own reserve estimates,” the American Embassy statement continues.
“The United States looks forward to continuing to share our experience in the safe and environmentally responsible development of unconventional gas with the Polish government.”
Despite claims by environmentalists that the hydraulic ‘fracking’ of shale gas – the procedure which frees the energy from rock – could be dangerous for the environment and even human health, Polish Geological Institute put out a report in February saying that after tests: "The impact of drilling related to hydraulic cracking on the quality of surface water was not observed. Underground drilling has not affected hydrological conditions around the well."
In November, however, the French National Assembly voted in favour of a ban on the practice of hydraulic fracturing. |
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uncltim
Just born
I oppose most nonsense.
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Post by uncltim on Mar 24, 2012 13:50:17 GMT 1
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Post by pjotr on Mar 24, 2012 19:05:04 GMT 1
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Post by tufta on Mar 25, 2012 18:02:17 GMT 1
Poland should watch out for the Dutch disease [/img] No worries Pjotr Recent estimate puts the reserve at the level of 30-50 years of Poland's recent natural gas consumption. We won't get money-dizzy from that, nonetheless it does change Poland's position re energy and very much so. |
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Post by pjotr on Mar 25, 2012 20:51:40 GMT 1
That's good Tufta, it is good to have your own natural gas reserves! The Dutch situation is as such:   Dutch Petroleum Company ( Nederlandse Aardolie Maatschappij BV) Following the discovery of an oil field near Schoonebeek in 1943 by Exploratie Nederland, a Shell company, Shell and Esso decided to put up the capital jointly for a new oil exploration and production company: Nederlandse Aardolie Maatschappij, or NAM for short. NAM was formed on 19 September 1947. It's logo represents the five cutters in a drill bit, seen from below. DevelopmentNAM made the first natural gas discovery in the Netherlands in Coevorden in 1948. Just over ten years later, in 1959, NAM discovered the famous Groningen gas field near Slochteren, one of the biggest in the world, with original producible gas reserves of around 2,700 billion m³. That discovery also opened the door to offshore gas exploration and production, and in 1961 NAM was the first company in Western Europe to drill for gas in the North Sea. TodayNAM is now the largest gas producer in the Netherlands, with annual production of around 50 billion m³. 70 % of gas (37 billion m³) comes from the Groningen field and the rest from various smaller fields elsewhere on the mainland and in the North Sea (15 billion m³). Gas produced by NAM covers around 75% of Dutch demand. NAM also continues to produce oil , around 0.3 million m³ a year. NAM accounts for just a fifth of the oil produced in the Netherlands (1,6 million m³). FutureNAM is working for the future. A good example is the underground gas storage facilities that NAM has constructed at Langelo and Grijpskerk, which enable us to meet demand even on the coldest days. Meanwhile, the search for new gas fields in the Netherlands and under the North Sea continues. On the basis of the currently proven reserves, NAM estimates that the Netherlands still has enough gas for about 25 years - depending, of course, on the rate of consumption. |
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Post by pjotr on Mar 25, 2012 20:57:35 GMT 1
Natural gas in the NetherlandsIn 1959, when a NAM exploration well struck gas near a village named Slochteren in the northern province of Groningen, it marked the beginning of a new chapter in the country's history, a chapter in which natural gas plays a prominent role. The gas field which NAM had discovered turned out to be one of the biggest in the world, covering an area of around 900 km² and with original producible gas reserves estimated at 2,700 billion m³. The sale of the gas has earned a great deal of money and, since a large share of the sale proceeds is paid to the state, the Groningen field has helped to contribute to the country's prosperity. 'Small fields' policyBack in 1963, the Dutch government took the view that nuclear power would replace fuels such as natural gas within a matter of decades. Proceeding on that basis, it was decided to sell a significant part of the reserves on the export market. In 1974, when it had become apparent that public opposition to nuclear energy would prevent this prediction coming true, the 'small fields' policy was adopted. NAM went in search of other gas fields, in order to extend the life of the Groningen field. This new policy proved successful and dozens of new gas fields were discovered. Only around a third of our gas now comes from the Groningen field, with gas from these smaller fields and imports making up the remainder. Blending gas streamsSupplying gas produced at small gas fields is more problematic, because the composition of the gas differs from one location to another. The difficulty arises because the appliances in use in the Netherlands, both domestic and industrial, are designed to burn gas of one specific composition: that of the Groningen gas. This means that we have to blend the different gas streams with gas from Groningen to achieve the right quality. It is important that we concentrate on producing gas from the smaller fields, because we still have enough Groningen gas to blend with it. The underground storage facilities at Langelo and Grijpskerk are a big help to NAM, because they enable production from the small fields to continue non-stop, even when gas demand is low. Facts and figuresNAM produced in 2009 53,3 billion m³ of natural gas, of which 37,6 billion m³ (70%) comes from the Groningen field. Offshore gas production and the small onshore fields produce 15,7 billion m³. The map below shows the locations where NAM holds gas and oil production concessions (a concession is a kind of licence issued by the government). On the map below you can find the oil and gas in the Netherlands on the mainland and offshore. The blocks are called concessions, a license handed out by the government, for the exploration and production of natural oil and gas.  Red spot: gas field
Green spot: Oil field
Red line: Gas pipeline
Green line: Oil pipeline
Star: Gas discovery in 2009
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Post by pjotr on Mar 25, 2012 21:11:44 GMT 1
en.poland.gov.pl/Natural,Resources,310.html  Polish Natural Gas Could Free Europe from Russia's Grip Once and for AllPoland is currently reliant upon natural gas imported from Russia. They shed the iron rule of the Soviet Union only to hand power back to Moscow due to their need for Gazprom’s products. However it has recently been discovered that Poland boasts Europe’s largest deposits of shale gas, an estimated 5.3 trillion cubic metres, which according to the US Energy Information Administration is enough to supply Poland’s energy needs for the next 300 years. Poland has therefore welcomed US companies such as Chevron, Exxon Mobil, Conoco and Marathon, in the hope that their knowledge of fracking technologies will enable the extraction of the gas. They hope for production to begin in 2014. Not only will the shale gas give Poland freedom from the tyrannical grip of Gazprom, but it will also reduce Europe’s reliance on Russian energy and therefore Moscow’s power over the continent. Russia currently supplies 25% of Europe’s gas. Daniel Yergin, a Pulitzer-prize winning author and energy historian said of Warsaw, " They're motivated to develop it economically and they're motivated to develop it politically."  Daniel Yergin (1947), American author, speaker, and economic researcherThe mayor of Lesniowice, Wieslaw Radzieciak, suggested that, " If this thing comes true, if the American technologies deployed here at some point are really able to produce this gas, then this means a winning situation for the whole of Europe really. It would create more competitiveness on the gas market, which is now dominated by Russia, and one side would not be able to force anything unilaterally anymore."  Wieslaw Radzieciak, (PSL) mayor of Lesniowice Despite this threat to their power over Europe and the potential for genuine competition in a market they have so long monopolised, Russian officials are not worried, claiming that Poland’s gas will just prove that Russian gas is cheap. They also believe that Poland’s weak infrastructure will prevent much gas from being produced and exported. Sergei Komlev, head of contract structuring at Russia's state-controlled Gazprom told Reuters last week, " Oh, we're so thrilled that they are starting to produce shale gas! Look, we do not believe in this myth of shale gas, that it is cheap gas. It is not true."  Sergei Komlev, head of contract structuring at Russia's state-controlled Gazprom“ Thrilled” really? That sounds like the sort of over exaggeration that people make on the point of a massive panic attack, when they still want everyone to believe that everything is OK. William Perry, a former U.S. secretary of defense, said after a recent trip to Moscow that, " The last thing they (Moscow) want is anything that upsets their monopoly on gas. I think it's fair to say that they are very concerned about it."  William Perry, a former U.S. secretary of defenseBy. James Burgess of Oilprice.com
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Post by Bonobo on Aug 3, 2012 8:11:45 GMT 1
Recent findings suggest that shale gas is less abundant than thought before. Geological agencies publish their reports with new figures. pubs.usgs.gov/fs/2012/3102/fs2012-3102.pdfHowever, Polish government officials suspect it is a game played by oil companies which are trying to negotiate better contracts for exploiting shale gas fields. |
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uncltim
Just born
I oppose most nonsense.
Posts: 73
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Post by uncltim on Aug 5, 2012 5:45:05 GMT 1
I would say your skeptcism is well founded.
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Post by Bonobo on Aug 8, 2012 8:44:02 GMT 1
I would say your skeptcism is well founded. All Polish democratic governments since the fall of communism have been accused by the opposition/common Poles of selling Polish assets out cheaply to foreign capital. The present government promised to put heavy taxation on shale gas excavation and sale. In result, American companies are trying to prove that Polish shale gas is not such profitable business after all. There could be sth in it, though, as one company even withdrew from Poland. www.naturalgaseurope.com/exxon-withdraws-poland-shale-gasInteresting article by a stock analyst about it - he advises people about Exxon stock on the basis of Polish failure : seekingalpha.com/article/686061-4-oil-and-gas-giants-struggling-along-with-exxon
The situation is likely to put increased pressure on companies operating in Poland, as the government plans to impose stricter licenses and place higher demands on companies like Exxon to successfully exploit their deposits. Foreign investors have already been complaining that they are facing discriminations from Polish authorities in terms of getting new licenses. With Exxon withdrawing from the country on the basis that it cannot find exploitable deposits, the situation can only get worse. This blow may extend beyond Exxon to the entire industry.
Exxon is a fairly strong company, so I do believe it will be able to recover from this event. I just do not think this is a great time to invest in the company. Interested investors should wait and see what the company does next.
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