Poland may launch commercial production of shale gasMarch 15, 2012 - 17:52 AMT PanARMENIAN.Net - Poland's treasury minister said Thursday, Match 15 that the country may start producing shale gas for commercial use in 2014, a move that should help the country limit its reliance on neighboring Russia for a large chunk of its energy needs, AP reported. Mikolaj Budzanowski said that commercial production of up to 1 billion cubic meters per year could start in late 2014. He said the deposits could be up to 2 trillion cubic meters, enough to add to Poland's energy mix for decades. Poland is seeking to diversify its energy sources to cut dependence on Russian imports and its shale gas deposits are a major element in the plan. Nuclear energy and renewable sources are also to be added to the energy mix. Poland's annual gas consumption is 14 billion cubic meters and 70 percent of that comes from Russia, at prices dictated by its Gazprom monopoly. The nation's reserves are still being estimated and a state assessment based on geological research done in the 20th century is to be presented on Wednesday. It is expected to be well below the 5.3 trillion cubic meters estimated by the U.S. Energy Information Administration. Some 20 international companies - many of them American - have obtained licenses to explore for shale gas and some have done some test drilling. The technology of extracting gas from shale rock through hydraulic fracturing was developed in the United States. The move gave the U.S. a level of independence in the gas sector and led to sharply lower gas prices. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. |