“The gold rush of the 21st century.”
The Journal of Turkish Weekly reports,
…Poland’s shale-derived gas could be as much as 50 percent cheaper than the Gazprom natural gas Poland now receives from the 2,607 mile-long Yamal-Europe natural gas pipeline, which currently costs Warsaw more than $500 per 1,000 cubic meters (tcm) for West Siberian output.
Seeking to cut the expensive Russian natural gas umbilical cord, Poland has high expectations for its projected indigenous production shale natural gas, as it currently depends on Russian Gazprom supplies for nearly two-thirds of its annual gas consumption of 14 bcm, estimating its domestic reserves of conventional natural gas at some 100 bcm, which would only meet domestic needs for slightly more than seven years.
In contrast, the U.S. Energy Information Administration has estimated Poland could have the biggest shale natural gas reserves in Europe, amounting to some 5.3 tcm.
No wonder Warsaw is interested…