Poland’s shale gas E&E deal expires
January 2, 2014
Five Polish state-controlled companies: natural gas giant PGNiG, copper group KGHM and power groups Tauron, PGE and Enea saw their framework agreement on cooperation in shale gas exploration and extraction expire on December 31.
According to a source close to the matter, the arrangement will not be renewed, Reuters reported on Wednesday.
Based on the deal signed on July 4, 2012, the companies planned PLN 1.7 billion outlays on joint exploration and extraction of shale gas from the first three pads at PGNiG's Wejherowo license on the Baltic coast.
But they missed a number of deadlines for mapping out details of the deal and said that they had now let it expire.
At the beginning of January 2013 PGNiG admitted it had suffered setbacks while conducting a series of fractures on its first-ever shale gas horizontal well at the Lubocino site, Wejherowo license.