NGE Notes: EIA Reports Boost's Romania's shale gas potential

A new report released bu the US Energy Information Agency (EIA) has significantly increased Romania's has technically recoverable shale gas reserves, placing the nation third in the EU  after Poland and France.

The EIA report says that Romania has 51 trillion cubic feet (1.4 billion cubic meters) which are technically retrievable. A 2011 assessment of Romania’s shale gas reserves by the IEA, indicated a figure of 113 billion cubic meters, ten times less.

The figure places Romania third in Europe, out of the 11 countries surveyed for shale gas, behind Poland and Germany.

Based upon present annual consumption patterns 14 billion cubic meters, the figure would allow upwards of 100 years of resources.

The Romanian government favors the development of shale gas as a way of allowing Romania to become energy independent and cut its reliance on Russian gas imports, which account for 20 percent of the domestic consumption.

Chevron Corp is leading shale gas development efforts in the nation and is undertaking exploration activity in the Vaslui and Dobrogea regions.