Poland, as well as Romania, the United Kingdom and Ukraine, are likely to be successful in their quest for shale gas, Deloitte said in its Oil and Gas Reality Check 2014 report. Energy from shale fuels could allow these countries to become less dependent on Russian gas, the analysts said.
“Although initial efforts have suffered setbacks, with no commercial discoveries to date and some major companies exiting Poland, interest remains, fueled by concerns over supply security and increased economic competition from a structurally advantaged US,” the report reads. “These strong motivations suggest European shale efforts will likely continue despite early challenges.”
The extraction of shale gas may significantly change the energy balance worldwide, Deloitte also said. “The resource poor (e.g., China, Poland, and Ukraine) could become the resource rich if their shale resources play out,” the report said.