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The Warsaw Voice » Business » July 30, 2012
Business & Economy
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Top Five Team Up
July 30, 2012   
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Poland’s five leading energy and extraction companies have signed an agreement on shale gas exploration.

The agreement between the five—PGNiG, Enea, KGHM Polska MiedĽ, PGE, and Tauron Polska energia—is designed to speed up the process of shale gas exploration. The first gas could be pumped to consumers in 2016.

Under the agreement, signed in early July, the companies will conduct joint exploratory activities at the Kochanowo, Częstkowo and Tępcz sites in northern Poland, part of the Wejherowo concession area, to which PGNiG has exploratory rights.

The presence of shale gas in the area has been confirmed by initial geological studies. The area where the companies will be working together covers 160 square kilometers. Each investor will contribute a specified percentage to the project’s budget, which is estimated at up to zl.1.72 billion.

“Thanks to cooperation between the extraction and energy sector, we will benefit from economies of scale,” said Treasury Minister Mikołaj Budzanowski.

He added that the team-up will make it easier to determine what the deposits are worth.

“This is also a path towards our long-term goal of looking for new ideas and developing innovation. Otherwise, we will not be able to meet the challenges of the EU’s climate policy and the need to reduce carbon dioxide emissions,” Budzanowski said, referring to the fact that shale gas is less damaging to the environment than energy sources such as coal, on which Poland is heavily dependent.

“The whole economy can benefit from shale gas, while our energy sector can become modern and competitive in Europe,” Budzanowski added.

The Wejherowo concession area is one of the 15 concessions held by PGNiG. Experts say that the area is one of the most promising. This is confirmed by drilling by PGNiG on the Lubocino 1 well. Last September, the company conducted fracking there, which resulted in the successful extraction of gas. Analysis of the gas showed that it is of good quality.

Under the agreement, PGNiG will be the operator at the stage of exploratory work. If the work goes according to schedule and is successful, extraction could begin in three years. Then, a special-purpose company, which will hold the exploitation concession for the deposits, will be set up and will become the operator.
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