FT: Poland: shale investors warn against planned tough rule changes

Poland’s hopes of creating a significant shale gas industry and reducing the country’s dependence on costly Russian imports seem to be receding ascompanies including ExxonMobil and Marathon from the US and Canada’s Talisman exit due to a combination of poor well results and regulatory uncertainty.

On Friday, foreign and Polish companies searching for unconventional hydrocarbons such as shale gas formally declared that the government’s plans to regulate future hydrocarbons production would deter investment.

“The draft law covers both conventional and unconventional hydrocarbon exploration and production. If adopted in its current form, we believe it will create difficulties in conventional exploration processes and will discourage investment in, and as a consequence the development of, unconventional resources,” the Polish Exploration and Production Industry Organisation (OPPPW) said in a statement.  MORE