• eng
01:44 GMT +3 hours23 December 2014
Live
Russia

Shale gas no threat to Gazprom in Europe - CEO

Russia
700
Extraction of shale gas in Europe would not have a significant impact on the European market, Gazprom CEO Alexei Miller said on Friday.

Extraction of shale gas in Europe would not have a significant impact on the European market, Gazprom CEO Alexei Miller said on Friday.

"We do not see the conditions for shale gas to have a serious impact on the European market," the head of the Russian gas monopoly told journalists.

Europe is the biggest market for Gazprom and any fall in demand there has implications for the company and the Russian economy.

Big shale gas fields have been discovered in Poland. Izvestia daily has quoted Russian experts as saying Europe's own gas reserves could rise by 47%, if the shale gas reserves Poland proved exploitable, making Warsaw a major regional gas supplier.

However, Greenpeace Russia's energy program chief Vladimir Chuprov said it was too early to gamble on shale gas.

"In contrast to traditional high-pressured gas in Russia, shale gas ... requires different technologies and large investment," he told RIA Novosti. "Today the question is will the technologies of shale gas recovery reach a commercially acceptable level soon."

 

VYBORG, April 9 (RIA Novosti)