EU Observer: Gazprom: A wolf in green clothing

People like me love conspiracy theories. This is especially true with ones involving Russia. But since the end of last year, it seems that at least one of these theories is coming true.

On 29 November 2011, the Gazprom board of directors made the unusual statement that it was concerned that "the production of shale gas is associated with significant environmental risks, in particular the hazard of surface and underground water contamination with chemicals applied in the production process. This fact already caused the prohibition of shale gas development and production in France."

This was a confirmation of statements made by the company's chairman, Alexander Medvedev in 2010.

Why this board's statement is unusual is that it makes Gazprom the only gas company in the world that is officially against the development of shale gas. Russia sits on one of largest shale gas reserves in the world, with at least 688 different shale formations. Why would the Russian gas export monopoly oppose its only long term development interest?  MORE