Chevron Call for EU–wide Framework for Shale Gas Development

Chevron Corp called for Europe-wide regulatory environment to be put in place to allow for shale gas development to move forwards.

Speaking to Reuters, Derek Magness, Chevron's general manager for Europe, Asia and Middle East, said the multinational also supported the concept of local communities sharing in the benefits of shale gas development.

"We would very much encourage the government to ensure a portion of the profit would go to that community," he said. "At least return it to the community in the form of a larger piece of the budget.

Chevron has taken a leadership position in European shales, plans to or has undertaken unconventional gas activities in Poland, Bulgaria, Romania, Lithuania  and Ukraine.

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