US to Aid Armenia Shale Search

The U.S. government pledged on Thursday to help Armenia explore and possibly develop its potential deposits of shale gas.

The two countries signed a memorandum of understanding which envisages a “cooperative assessment and technical studies of Armenia’s energy resources, including any potential shale gas resources, to be jointly undertaken by Armenian Ministry of Energy and Natural Resources and the U.S. Geological Survey.

A statement issued by the ministry clarified that the two sides will not only explore Armenia’s “unconventional” energy resources but also gauge the feasibility of their commercial exploitation and, if necessary, devise “investment projects.” Natural gas would be produced from Armenian shale deposits through “use of the best technologies harmless to environment,” it said.

The statement added that the agreement stems from an international conference on shale gas that was hosted by the U.S. State Department last August. It said U.S. officials offered exploration grants to government representatives from Armenia and about two dozen other countries that attended the three-day forum.

“The organizers … noted the readiness of the U.S. government and companies to make investments in those countries,” revealed the statement. It said the Armenian participants presented “brief information” about the availability of shale and other energy resources in their country.

“In the Republic of Armenia, there are a number of shale fossil deposits from which one can extract not only gas but also shale oil, which is very similar to crude oil in terms of its characteristics,” said Armen Movsisian, the Armenian Minister of Energy and Natural Resources.

Source: www.azatutyum.com