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Romania gears up for more shale gas exploration - minister - Reuters Thu May 23, 2013 3:00pm BST * Government has become a supporter of shale gas * Romania.

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Presentation on theme: "Romania gears up for more shale gas exploration - minister - Reuters Thu May 23, 2013 3:00pm BST * Government has become a supporter of shale gas * Romania."— Presentation transcript:

1 Romania gears up for more shale gas exploration - minister - Reuters Thu May 23, :00pm BST * Government has become a supporter of shale gas * Romania among least dependant on Russian gas By Ioana Patran BUCHAREST, May 23 (Reuters) - Romania will soon launch tenders to expand shale gas exploration after Chevron took the lead this month as the government seeks to reduce dependence on costly imports, the energy minister said on Thursday. "The mineral resources agency will launch tenders for shale exploration in the near term. New perimeters are set to be tendered soonish, but it is up to them (to set) the exact timing," Minister Constantin Nita said. "It's normal that we would like to see more and more investors and companies joining the search for energy resources," he added. The U.S. Energy Information Administration estimates that Romania and its neighbours Bulgaria and Hungary could between them have 538 billion cubic metres of gas, which would be enough to cover Romania's consumption for almost 40 years. Earlier this month U.S. oil major Chevron said it planned to start exploration for shale gas in Romania. It will conduct a 2D geophysical study near the Black Sea and drill exploratory wells further north in Vaslui county. Shale gas faces local opposition due to environmental concerns around hydraulic fracturing, the process of injecting water and chemicals at high pressure into underground rock formations to push out the gas. Thousands protested across Romania last month, asking the government to ban the drilling. Romania's leftist government initially opposed shale gas when it took power in 2012 but has since became a supporter in view of the potential economic benefits from any major discovery. Nita told an energy seminar earlier on Thursday that, depending on shale gas exploration findings, "Romania will decide whether or not to exploit them." But he added his government "is seeking to find ways to reassess the energy mix in Romania". Romania is not under so much pressure as its neighbours to find more gas, because it already has considerable conventional gas reserves and imports only about a quarter of the gas it uses.

2 MTI (Agentia Nationala de Presa a Ungariei) Romania gears up for more shale gas exploration, minister says MTI – Econews Friday, May 24, 2013, 6:15 PM CET Romania will soon launch tenders to expand shale gas exploration after US-based Chevron took the lead this month as the government seeks to reduce dependence on costly imports, the energy minister said. “The mineral resources agency will launch tenders for shale exploration in the near term”, Reuters quoted Constantin Nita as saying in an energy seminar on Thursday. The US Energy Information Administration estimates that Romania and its neighbors Bulgaria and Hungary could between them have 538 billion cubic meters of gas, which would be enough to cover Romania’s consumption for almost 40 years. But Nita added his government “is seeking to find ways to reassess the energy mix in Romania”. Romania is not under so much pressure as its neighbors to find more gas, because it already has considerable conventional gas reserves and imports only about a quarter of the gas it uses.

3 Shale Energy Insider Romania to launch tenders for shale exploration, says energy minister 24 May 13 Romanian energy minister Constantin Nita has said that the country will be launching tenders to expand the exploration of shale gas, in an effort to cut down on imports and ‘find ways to reassess the energy mix in Romania’ although it currently imports only a quarter of its total gas needs as its has considerable conventional gas reserves. According to Nita: “The mineral resources agency will launch tenders for shale exploration in the near term. New perimeters are set to be tendered soonish, but it is up to them (to set) the exact timing”. Depending on the findings of the exploration, “Romania will decide whether or not to exploit them.” “We would like to see more and more investors and companies joining the search for energy resources,” he added. Earlier this month, Chevron had already announced that it is planning to conduct a 2D geophysical study near the Black Sea as well as drill exploratory shale wells in Vaslui county. The U.S. Energy Information Administration estimates that Romania, along with its neighbours Bulgaria and Hungary, could have 538 billion cubic metres of gas. Fracking and drilling are facing opposition from citizens as thousdans protested against it last month.

4 Global.factiva.com Nita: Romania should finalise Iasi-Ungheni gas pipeline by Nov. Bucharest, May 23 /Agerpres/ - Romania has this November as the deadline for finalising the Iasi-Ungheni gas pipeline linking Romania to the Republic of Moldova, Romanian Minister-delegate for Energy Constantin Nita on Thursday told the Energy Business Summit, a conference sponsored by the Economy Ministry. 'Romania must finalise the Iasi-Ungheni gas pipeline by November, to inter-link our country to the Republic of Moldova. For the achievement of this objective, the European Commission will grant the two states seven million euros, with Romania to get four million euros of this amount', Nita explained. The minister announced he will pay a visit to the Republic of Moldova's capital of Chisinau later in the day to discuss this objective with the Moldovan officials. The Iasi-Ungheni pipeline will connect the Romanian and Moldovan gas networks and will carry 1.5 billion cubic metres of natural gas a year. The pipeline will be 43.2-kilometre long, with 32 kilometres of it being in the Romanian territory. Building the pipeline is aimed at strengthening Moldova's energy security.AGERPRES cat=a&aid=9ZFB000700&ns=16&fn=Romania%20Energy&ft=g&OD=V2AUbjNaqd6b6yKMegonfnoUAZrTDW4K5jnA wC70GVmxODGqNnev%2fl1A%3d%3d%7c2 cat=a&aid=9ZFB000700&ns=16&fn=Romania%20Energy&ft=g&OD=V2AUbjNaqd6b6yKMegonfnoUAZrTDW4K5jnA wC70GVmxODGqNnev%2fl1A%3d%3d%7c2

5 Reuters Chevron says Europe needs broad framework to explore shale gas By Barbara Lewis BRUSSELS | Tue May 28, :03pm EDT May 28 (Reuters) - Europe needs an EU-wide framework if it is to tap into its shale gas reserves quickly enough to reap the benefit, a senior executive at Chevron Corp said on Tuesday. European governments should also consider sharing any profits with local communities in an echo of what is done in the United States, where landowners benefit directly from shale gas finds, Derek Magness, Chevron's general manager for Europe, Asia and Middle East, told Reuters in an interview. Debate is intense in Europe about whether shale gas, by lowering energy costs, can provide the kind of economic boost that it has delivered in the United States. "There's a big unknown here," Magness said, saying that Chevron was committed to exploring shale gas reserves. The amount of available data for Europe is tiny compared with the United States. In Poland, for instance, only one well has been drilled in one concession, while for an area of a similar size in the United States, there would be 4,600 wells, Magness said. So far, he said, Chevron was drilling a fourth well in Poland and hoped to drill two more this year. It also plans to explore in Romania and is in talks with the Ukraine government. Magness said he could not comment on ongoing negotiations. STAYING THE COURSE While Chevron says it is staying, other companies, including Exxon Mobil, have abandoned shale gas operations in Poland. Some have cited uncertainty about the regulatory environment, as well as poor drilling results. The European Union's Executive Commission has said there is sufficient EU-wide regulation in place for the exploration phase of shale gas, though more might be needed to cover development. It has said it will publish later this year a non-binding framework to guide activity. "We need that regulatory environment in place," Magness said, arguing it could overcome confusion and share best practice, with nations such as Britain providing a possible model. British Prime Minister David Cameron, whose government is advancing plans for its shale gas deposits, said at an EU summit on energy last week that Europe could not afford to be left behind as the United States gains a competitive advantage. Magness said the question is "whether (the European Union) can do it in a timely manner in order to take advantage of the marketplace". Benefits for the United States have included encouraging re-industrialisation, as the chemical industry, for instance, is drawn by cheap energy. But for Europe the situation is complex. Opposition from environmental campaigners is strong and geology and geography are very different. Analysts say the cost will rise as prices fell so far in the United States that shale gas developers suffered a loss. One catalyst in the United States has been the direct financial benefit to landowners, which has overcome resistance, whereas in Europe resources tend to belong to the state. Magness said he had discussed with governments the idea of handing some of the profits to communities. "We would very much encourage the government to ensure a portion of the profit would go to that community," he said. "At least return it to the community in the form of a larger piece of the budget."


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