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FX.co ★ Huge gas deposit discovered in Poland

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Forex Humor:::2014-02-21T07:26:00

Huge gas deposit discovered in Poland

A huge natural gas field was discovered in Poland. February 12, Poland’s gas giant PGNiG SA announced it in the statement posted on its official website. A deposit of
high-methane natural gas was found in the south-eastern part of the country on the border with Ukraine and Slovakia in the Podkarpackie region 350 km away from Warsaw. The gas reserves are deposited 2 km deep. The gas field is estimated at several billion cubic meters. PGNiG SA is going to launch production from the new deposit in the middle of 2015. Besides, it expects gas output from the deposit to reach 100,000 cubic meters daily in the first year of operation. Nowadays, the local gas production equals 4.32 billion cubic meters annually. Poland’s total hydrocarbon crude supply is estimated at 727 million barrels of oil equivalent, 567 million barrels (or 89 billion cubic meters) of which account for conventional gas. According to the Energy Information Administration’s Factbook, the available gas resources were measured at 92 billion cubic meters in 2013. Currently, Poland is ranked 57 in the world in terms of the natural fuel resources. Along with Ukraine, Poland aims to bring down its dependence on Russia’s gas. In late 2012, Poland’s demand for the imported gas from Russia equaled 10 billion cubic meters. In summer 2013, the mass media unveiled information that Warsaw was considering an opportunity to set up liquid natural gas supplies from the U.S. Besides, Poland made attempts to investigate shale gas deposits on its territory. However, American experts rejected the feasibility plan as unprofitable.

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