Exploration & Production | Top Story
Poland's Shale Gas Hopes Take Another Hit as Total Drops Licenses
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French giant Total SA has declined to renew its shale gas exploration license in Poland, according to a report by Reuters.
Total said that despite the presence of gas, the area of exploration was not economically viable.
Total joins a growing number of companies who are shelving any plans to develop shale gas in the country.
The Prime Minister of Poland, Donald Tusk, had announced three years ago that by 2014 Poland would seek to produce unconventional gas commercially, in order to ease dependence on Russian supplies of gas.
Poland has increased its efforts to diversify energy sources ain light of the recent supply shortages associated with the Ukraine conflict.
A March 2012 report downgraded Poland's estimated shale gas reserves by 90 percent. Combined with a lack of a legal framework…
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