PGNiG Dedicates Funds for Shale Gas Exploration

Poland’s state owned fuels group, Polish Oil and Gas Company (PGNiG),  plans to earmark PLN100-200 million (25-50 million euro) annually for shale gas exploration.

Radosław Dudziński, Vice-President of PGNiG, made the statement at the Petrobiznes (Fuel-Chemical Industry-Gas) Congress in Warsaw.

Dudzinski added that the total sum to be spent by PGNiG amounts to 700-800 million zloty (178-204 million euro) on shale gas exploration in Poland

PGNiG is amongst a number of international companies including Marathon, Exxon, Lane/ConocoPhillips, San Leon Energy/Talisman, BNK Petroleum and Realm Energy International, who have decided to launch prospecting in Poland.

Poland is generally viewed as one of the countries having the best prospects for unconventional gas deposits in Europe.

According to Polish economists, if the size of the deposits is confirmed, their exploitation could significantly improve Poland’s energy security.

At present, Poland relies heavily on Russian natural gas imports.

Source: Polish Market