The US was hoping to promote its fracking technology in European countries, including Ukraine, but the current results show that this idea is far from reality, DWN reported.
The fracking industry, which many countries pinned their hopes on, is becoming more and more unpopular and shale gas production in the EU is very expensive. Difficult geological conditions, complex regulations and the war in eastern Ukraine have made the initial enthusiasm of fracking investors significantly decrease, the newspaper wrote.
The decline in the price of oil below 50 dollars per barrel brought the attractiveness of shale gas to naught and made its extraction nearly impossible. The euphoria is gone, and the fracking industry in Europe is, in contrast to the United States, unlikely to achieve any breakthrough, the article said.
An additional constraint on the fracking industry is public resistance. People are anxious about the environmental pollution as well as a possible increase in earthquakes.