Poland fracking discontinued by international firms
Recently, two North American firms have cancelled their Polish fracking operations and were said to be pulling out of the country, which may have one of the most lucrative sources of shale gas in Europe.
The two companies, Canada’s Talisman Energy and the US oil company Marathon, said that the decision was due to the “unsuccessful attempts to find commercial levels of hydrocarbons.” This is a blow to Poland, as it was hoping to replace Russian shale gas imports with local supply had the fracking operations been successful. Talisman Energy’s Polish fracking operations will be sold to San Leon Energy, an Irish group that believes there is still significant interest in the Baltic Basin shale gas.
The two companies, Canada’s Talisman Energy and the US oil company Marathon, said that the decision was due to the “unsuccessful attempts to find commercial levels of hydrocarbons.” This is a blow to Poland, as it was hoping to replace Russian shale gas imports with local supply had the fracking operations been successful. Talisman Energy’s Polish fracking operations will be sold to San Leon Energy, an Irish group that believes there is still significant interest in the Baltic Basin shale gas.
Many energy companies have tried exploring Poland’s estimated shale gas reserves mostly because two years ago, the US Energy Information Administration estimated that those reserves were around 5.3 trillion cubic meters, which was enough to cover national demand for three centuries. However, with energy companies reporting disappointing results and the subsequent pullout of US energy giant Exxon, those estimates were reduced by almost 90 percent last year, an amount that would still last for decades instead of centuries.
Currently, only two of the world’s major energy companies are still active in Poland’s shale gas sector: US-based Chevron and Italy-based ENI.
Currently, only two of the world’s major energy companies are still active in Poland’s shale gas sector: US-based Chevron and Italy-based ENI.
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