Poland’s Shale Dream Officially Ends
- New Europe Investor
- October 23, 2016
Polish energy companies, PGNiG and PKN Orlen have finally given up their hopes of extracting shale reserves in Poland.
Chevron, Exxon Mobil and Total among others, rushed into the country following former Prime Minister Donald Tusk’s assertion that Poland would be extracting shale reserves by 2014.
It was said that Poland had enough shale reserves to provide three centuries worth of energy. However, that was five years ago and the US giants quickly pulled out when it emerged that reserves were not as plentiful as imagined, were too difficult and inefficient to extract, and global oil prices started to fall.
Miroslaw Kochalski, deputy head of PKN Orlen told a news conference on Wednesday, “The discussion and projects related to shale gas is a closed issue for us.”
Piotr Wozniak, the chief executive office at PGNiG, said, “Shale gas has ended not that badly when it comes to the improved techniques of unconventional gas exploration. Shale gas as such has failed indeed.”