Chevron Confident about Shale Gas Prospects in Eastern Europe

Chevron remains positive about prospects of unconventional gas explorations in Eastern Europe, claiming that shale gas can decrease the dependence of those countries on Russia.

“This resource could certainly enhance energy security within Europe and also bring enormous economic benefits,” said Ian MacDonald, Chevron vice president for Europe, Eurasia and the Middle East, as reported by Bloomberg.

The company's shale gas portfolio includes acreage in Pennsylvania, western Canada and Eastern Europe (Poland, Ukraine, Romania and Bulgaria). In 2012, Chevron added acreage in New Mexico and Lithuania, providing further opportunities to explore for shale and unconventional resources. 

Chevron owns four of the 108 concessions for unconventional gas exploration awarded by Poland.

“Chevron believes that upon learning how these hydrocarbon resources can be explored for and developed safely, the governments and citizens of central Europe will be supportive,” said MacDonald.

Last month, Treasury Minister Wlodzimierz Karpinski said that shale gas in Poland is a matter of national interest.

This brought renewed enthusiasm on Polish shale gas after Exxon Mobil, Talisman Energy and Marathon Oil scaled back their investments in local shale gas operations.