06:44 GMT10 April 2020
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    Energy experts expressed their doubts about the development of the fracking industry in Europe. The technology is too expensive for the EU and the resistance within the population is too strong, DWN wrote.

    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.

    Recently, the G7 energy ministers announced their intention to help Ukraine reduce its energy dependence on Russia, but how they are planning to do it remains unclear.

    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.

    Related:

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    Germany Unlikely to Be Gas Self-Sufficient if Fracking Ban Lifted – Fitch
    Fracking: a Blessing or a Curse? US Society Split, Gallup Poll Shows
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    fracking, energy, Europe, Russia
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