Estonia Bets on Oil Shale; Labeled Most Energy Independent EU Country

Estonia bets on shale both at home and in the US, with its economy minister Juhan Parts claiming that the Baltic country is the “most energy independent … in the European Union.”

As reported by the Telegraph, Parts intends to foster domestic growth ad ‘leverage its primacy in oil shale technology and go global,’ restoring the economic and political clout Estonia lost in the Soviet era. 

“Even if we had to invest in new power plants today, shale would still be cheapest. Russian gas costs 1.8 times as much; onshore wind 2 times as much; and offshore wind 2.5 times as much,” added Parts, explaining that he is sceptical about the climate issues raised by the European Union.

Estonia’s shale formations are different with respect to the ones in the United States. Oil is extracted with plants from the Soviet era. Eesti Energia is about to open the world’s biggest shale plant to double the production of oil.

The company bought also some assets in Utah.