Bloomberg: Romania Ends Moratorium on Shale Gas Exploration

Romania ended a moratorium on shale gas exploration in a bid to boost domestic energy resources and curb reliance on fuel imports from Russia.

It may take four to five years to assess potential volumes, Prime Minister Victor Ponta said in an interview broadcast live on Adevarul’s website today. Exploration will start in Vaslui in the east and may extend to the southeastern county of Constanta.

“The moratorium ended in December and hasn’t been extended,” Ponta said in his first public announcement of the decision. “If shale gas is found in Romania, I’m convinced that technology will advance so much in four or five years that it will practically ensure the release of all the regular environmental permits.” MORE