Italian energy company Eni is abandoning efforts to produce shale gas in Poland, dealing yet another blow to the country’s ambitions of becoming a significant gas producer and raising questions over shale’s prospects elsewhere in Europe.
A person familiar with the industry said Eni was retreating from its three Polish exploration concessions because the geology was much more unfavourable than had been earlier thought.
The decision was confirmed by Poland’s Environment Ministry. The US Energy Information Administration set off Poland’s shale frenzy in 2011 when it estimated possible reserves of 5.3 trillion cubic metres, the largest in Europe. Recent Polish estimates have been more conservative, in the range of 346 billion to 768 billion cubic metres.
Source: EU-RussiaCentre - The Financial Times