Prospects for application of US shale gas technology in Eastern Europe : legal, economic and environmental concerns Poland vs. Ukraine

Abstract

It is obvious to everybody today that energy is a very important strategic element of the countries' economy. Continuously growing population and industrial sectors demand more and more energy for successful development disregarding the raising price for traditional energy resources what urges researchers and industry practitioners to search for unconventional alternatives. That seems to be especially crucial for emerging economies. In this light shale gas that was in recent years introduced in the US in results of successful application of fracturing technology, appears to be a promising option of reasonable scale. Being found in abundance in shale fields of Poland and Ukraine it represents a real opportunity to improve energy independence and potentially reduce carbon emission in these countries. The study includes brief overview of geological conditions and discovered reserves of the shale gas in the region, current status of energy balance and relevant legal framework along with official and industry comments on current shale gas activities and analysis of most probable market scenarios for the new energy resource followed by recommendations in a form of conclusion to consider by potential project developers.