№ 4 (April 2012)
Shale Gas Threatens Russian Energy Monopoly, Says IEA
The International Energy Agency (IEA) has claimed that the exploitation of shale gas reserves around the globe will help topple Russia from its place as a world leader in gas exports.
The report by the IEA comes just a fortnight after Polish Prime Minister Donald Tusk declared that the extraction of shale gas in Poland will create “a new epoch for energy in Poland.”
By The News.pl
According to the IEA's report, the current high prices of Russian gas are no longer competitive, and these will eventually be forced down.
The IEA predicts that the exploitation of shale gas will be a key factor in this process, with Russia plummeting to its lowest strength in the gas sector in 2035.
Meanwhile, the USA has been singled out as taking Russia's crown in the energy sector, with India, Canada, Australia and Indonesia, all providing competition.
Poland is hoping to become more independent in the energy sector, thanks to its shale gas reserves.
In March this year, Poland's Chief National Geologist Piotr Wozniak revealed that the extent of Polish shale gas deposits may not be quite as promising as previously imagined, but Warsaw is still confident that the exploitation of the fuel will be a breakthrough for the country's energy sector.