Eastern Europe Set to Lead Shale Gas Production in Region, Reports GlobalData
03 Aug 2012 • by Natalie Aster
Poland and Ukraine aim to free themselves from reliance on Russian gas imports, and make plans for domestic shale gas production.
Shale development is challenged by Eastern Europe’s difficult land access, inadequate infrastructure, increasing protests against hydraulic fracturing and limited availability of drilling equipment, but acknowledges that positive government attitudes are puting these aspirations in reach.
New report "Gas Shales in Europe, 2012 - Market Analysis, Industry Development and Competitive Landscape" by GlobalData assumes that Russia holds enormous natural gas reserves, and their export business has resulted in a near monopoly held by major Russian natural gas producer, Gazprom, throughout the East European region. This over dependence has led to a drive within Eastern Europe to seek alternative sources of natural gas.
Poland is currently at the forefront of shale gas development in Europe, and is believed to have significant recoverable shale gas reserves in the region. Representing around 30% of the total European shale gas market, Poland is aiming to maintain this dominance through numerous exploration projects and concessions. Poland’s initiatives are backed up by suitable fiscal regimes, as the country strives to break its dependence on Russian shale gas imports and benefit from the huge fiscal stimulus in tax revenue and employment that domestic production could provide.
Gas Shales in Europe, 2012 - Market Analysis, Industry Development and Competitive Landscape
Published: July, 2012
Price: US$ 3.995,00
Competition is rising for Poland too, as a new force emerges in the European shale gas market. Ukraine’s government is showing increasing interest in the industry, similarly aiming to reduce Russian imports by producing its own shale gas. A positive inclination for shale development is apparent in the addition of shale gas to the country’s list of strategic minerals, which is expected to improve investments in the sector, garnering fiscal and policy support from the government. The Ukraine holds around 7% of Europe’s total shale gas reserves, representing a potential goldmine.
More information can be found in the report “Gas Shales in Europe, 2012 - Market Analysis, Industry Development and Competitive Landscape” by GlobalData.
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