FT: Poland’s shale gas dreams put on hold

Poland’s much-hyped shale gas boom could take as long as six more years to become commercially viable, as foreign oil and gas companies abandon their exploratory plans, citing bureaucratic tangles and an unfriendly investment climate.

Poland dreamt of domestic shale gas providing both an alternative to relying on politically unpalatable Russian energy and a windfall to state tax coffers.

Global petrochemical companies such as ExxonMobil, Total and ConocoPhillips flocked to the country, snapping up concessions and making Poland Europe’s biggest shale gas market by drilled wells.

But instead exploratory wells have failed to meet expectations and many drillers have grown impatient with regulatory delays that executives say have smothered their ambition.
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