Three energy companies apply for first Czech shale gas licences

03 August 2011 17:36  [Source: ICIS news]

LONDON (ICIS)--Three companies have become the first to apply for shale gas exploration licences in the Czech Republic, the Czech environment ministry said on Wednesday.

Explorers of unconventional gases, UK-based Cuadrilla Resources and Australia-based Basgas, as well as Czech crude oil and natural gas company Moravske naftove doly, would commence drilling within two years if the licences were issued, the ministry added.

A study for estimating the size of shale gas reserves in the Czech Republic had been commissioned by the environment ministry, it said.

Initial geological studies suggest that drilling costs in the Czech Republic would be higher than in the US because of less accessible deposits, the ministry added.

However, shale gas production would be worthwhile under certain conditions, it said.

In Europe, Poland has led the way in issuing shale gas exploration licences with the government hoping that massive shale gas deposits could end the country's heavy reliance on Russian gas imports.

By: Will Conroy
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly