Poland to invest 12.5 billion euros in shale gas by 2020

Oct 13, 2012
A drilling rig exploring for shale gas in the eastern Polish village of Grzebowilk in 2011. Poland will invest 50 billion zlotys (15.5 billion euros) in the exploration of shale gas by 2020, said Finance Minister Mikolaj Budzanowski.

Poland will invest 50 billion zlotys (15.5 billion euros) in the exploration of shale gas by 2020, Finance Minister Mikolaj Budzanowski said Saturday.

Investment over the next two years will total five billion zlotys (1.2 billion euros, $1.6 billion), which includes a 409-million-euro shale gas deal agreed in July by five Polish energy and mining groups, Budzanowski told the press.

"With the Russian gas accord terminating at the end of 2022, we must be well prepared to noticeably boost the exploitation of our own gas fields three years earlier," he said, adding that state money as well as private investment would be involved.

Poland which has a population of 38 million has extractable shale gas deposits estimated at 1,920 billion cubic metres, according to an official report published in March.

The National Geological Institute (PIG) said Poland's deposits are the third largest in Europe after those of Norway and the Netherlands.

Its extraction could make the country independent of Russian imports.

Poland burns 14 billion cubic metres of gas a year, two-thirds of which come from Russia.

The government expects extraction to begin in 2014.

The gas is extracted from rock through or fracking, the drilling of underground shale by injecting chemicals and water to release the trapped natural gas.

Opponents say it causes pollution of the ground water but energy groups say it provides access to considerable and drives down the price.

Explore further: Five anthropogenic factors that will radically alter northern forests in 50 years

add to favorites email to friend print save as pdf

Related Stories

Polish report: shale gas extraction not harmful

Mar 02, 2012

(AP) -- A scientific study in Poland has found that shale gas extraction at one site produced some toxic refuse but that the waste was reused and didn't harm the environment.

Romania to review moratorium on shale gas

Jun 22, 2012

Romania will review its stand on shale gas when a drilling moratorium expires in December and align itself with a future joint EU position on the controversial issue, Prime Minister Victor Ponta said Friday.

English tremors blamed on shale 'fracking'

Nov 02, 2011

(AP) -- The only company in Britain using hydraulic fracturing to release natural gas from shale rock said Wednesday that the controversial technique probably did trigger earth tremors in April and May.

Recommended for you

More, bigger wildfires burning western US, study shows

14 hours ago

Wildfires across the western United States have been getting bigger and more frequent over the last 30 years – a trend that could continue as climate change causes temperatures to rise and drought to become ...

User comments : 0

More news stories

Six Nepalese dead, six missing in Everest avalanche

At least six Nepalese climbing guides have been killed and six others are missing after an avalanche struck Mount Everest early Friday in one of the deadliest accidents on the world's highest peak, officials ...

China says massive area of its soil polluted

A huge area of China's soil covering more than twice the size of Spain is estimated to be polluted, the government said Thursday, announcing findings of a survey previously kept secret.

There's something ancient in the icebox

Glaciers are commonly thought to work like a belt sander. As they move over the land they scrape off everything—vegetation, soil, and even the top layer of bedrock. So scientists were greatly surprised ...

Clean air: Fewer sources for self-cleaning

Up to now, HONO, also known as nitrous acid, was considered one of the most important sources of hydroxyl radicals (OH), which are regarded as the detergent of the atmosphere, allowing the air to clean itself. ...

Leeches help save woman's ear after pit bull mauling

(HealthDay)—A pit bull attack in July 2013 left a 19-year-old woman with her left ear ripped from her head, leaving an open wound. After preserving the ear, the surgical team started with a reconnection ...

Venture investments jump to $9.5B in 1Q

Funding for U.S. startup companies soared 57 percent in the first quarter to a level not seen since 2001, as venture capitalists piled more money into an increasing number of deals, according to a report due out Friday.