KPMG: Poland seen as CEE's most favourable market for shale gas production.

By bne IntelliNews July 10, 2012
With strong governmental and public support for shale gas development, and significant proven shale gas reserves, Poland is considered to be the most favourable market in the CEE region for shale gas production, which - as in Romania and Lithuania will essentially be driven by the economics of development, according to a report by advisory KPMG. However, the firm notes that according to Schlumberger, the world's largest oil field services provider, shale gas development in Poland can cost, on average, almost three times more than in the United States: the cost of drilling a 2,000-meter horizontal well in the US averages USD 3.9mn, compared to as much as USD 11.0mn in Poland. According to earlier information, commercial shale gas production is expected to be launched in Poland in 2014-2015. In March, the State Geological Institute (PIG) estimated that Poland's shale gas deposits are at least around 345-768bn m3. In April of 2011, the U.S. Energy Information Administration (EIA) estimated that Poland's technically recoverable shale gas resources are 187tr cubic feet (or around 5.3tr cu.m.).

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