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    WBJ: PM rakes environment minister over the coals on shale gas

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Summary

Prime Minister Tusk told Environment Minister Marcin Korolec his job requires a business-oriented mindset "or someone else" will do it, referring to policy towards shale gas investments.

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WBJ: PM rakes environment minister over the coals on shale gas

Prime Minister Donald Tusk said on Wednesday that he had reprimanded Environment Minister Marcin Korolec over the ministry's policy towards shale gas investments.
 

“Yesterday I told the Environment Minister very clearly that I expect him to prepare regulations that won’t scare investors away,” said PM Tusk. Companies willing to invest millions in shale gas exploration and extraction in Poland should be able to maintain a sense of security for their business, he added. “He must either acknowledge that this project requires a business-oriented mindset or someone else will take over the task,” Mr Tusk added.

The prime minister said that the government is looking for regulations that would attract investors, in order to avoid future withdrawals. He added that foreign investors expressed the most concern over whether they would still hold rights to licenses after finding shale gas deposits.

This year both Canada's Talisman Energy and the US's Marathon Oil have announced plans to sell their Polish shale gas exploration assets. Talisman cited a change of strategy, while Marathon said it had found a lack of commercial levels of hydrocarbons.  MORE

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