Poland Calls on South Korea to Join its Shale Gas Search

Warsaw's Ambassador in Seoul has encouraged Korean companies to invest in Poland's developing shale gas industry.

“Korean companies are investing in shale gas reserves abroad. Why not Poland?” – The Korea Times quotes ambassador Krzysztof Majka as saying.

“Poland hasn’t wasted any time in exploring for shale gas” – writes The Korea Tomes and indicates that no Korean company has shown any interests while Chevron, Marathon Oil and ConocoPhilips, are already drilling in Poland. The newspaper explains that Poland endorses a mid-term plan of switching from coal to gas an nuclear energy.

In addition Mr. Krzysztof Majka explained that Poland “can’t afford to ignore” its shale gas reserves because of the country’s energy dependence on Russia.

Second largest importer in Asia looking for gas abroad

Last year the government in Seoul officially recognized gas as the “fuel of the future” and encouraged the national gas import monopoly KOGAS to engage in shale gas projects abroad.

Last year governments of South Korea and British Columbia signed a memorandum of understanding to allow KOGAS to join shale gas projects and import gas from Canada. KOGAS, which is the world largest LNG importer, joined shale Horn River and West Cutbank shale gas projects.

The company is also looking to cooperate with gas firms in China to reach for potentially huge shale gas reserves there.

At the sme time the Korea National Oil Corporation concentrates on the investments in the US, and last year spent over USD 1.5 billion on a shale gas project in Texas.

According to the government, the main objectives of  overseas projects is to secure natural gas import and improve energy self-efficiency of the country.

Poland shares similar challenges, also looking for new sources of gas. The first LNG import terminal in Poland is still in progress.