Install

Get the latest updates as we post them — right on your browser

. Last Updated: 05/21/2013

State to Measure Shale Gas Reserves

The Moscow Times

A program commissioned by a federal ministry will measure Russia's reserves of shale gas.

Shale gas is a sensitive subject in energy circles because its emergence as a credible alternative to conventional natural gas is predicted to weaken the dominance of state-owned Gazprom, Russia's biggest company.

Gazprom has long denied that it considers shale gas a credible threat.

The document, produced by the Natural Resources and Environment Ministry, will be discussed during a government session Thursday.

"The development of shale gas envisages an analysis of Russia's shale deposits, the development of methods for revealing gas fields … and the development of technologies for extracting shale gas," the program reads, Interfax reported Wednesday.

The widespread development of shale gas in the U.S. has made the country the biggest gas producer in the world. And despite environmental concerns, European countries, including Poland and Ukraine, are seeking to tap their shale gas reserves.

Shale gas is extracted through a technique known as fracking, in which water infused with chemicals is pumped at high pressure into rock formations, splitting them open and allowing the gas to flow freely.

With demand for Russian gas falling in Europe, President Vladimir Putin appeared to signal in November that Russia should take shale gas more seriously.

"Politicians, experts and business are talking about a real shale revolution," Putin said during the opening of the Bovanenkovskogo gas field on Oct. 24. "We are simply compelled to take these trends into consideration."



comments powered by Disqus



Also in Business

Wheels: Opel's New Astra Adds Speed to an Old Standard

Opel's updated Astra provides the same old reliable performance and functionality while adding many modern amenities.

Moscow Seeks $6.45Bln in Metro Cars

City Hall will hold a first-of-its-kind tender for 2,500 to 3,500 metro cars in August, and the winner will get a 30-year contract.

Paid Parking Limited to Center

The initial plans to introduce paid parking within the 3rd Ring Road were canceled, with paid parking limited to the Boulevard Ring.

Olympics Investors Get More Honor than Profit

The mountains of Sochi are now home to Potanin's slope, Gazprom's gondola lift and Sberbank's ski jump.

VTB 24, Housing Mortgage Agency Cutting Loan Rates

Following Sberbank, two other major players on the mortgage market, VTB 24 and the Housing Mortgage Agency, announced that they are cutting lending rates, Vedomosti reported.

Rock Musician Implicated in Rosbank Bribery Scandal

A bribe that Vladimir Golubkov, head of Societe Generale's Russian unit Rosbank, allegedly received for easing the terms of a multimillion-dollar loan, came from rock musician and former lawmaker Andrei Kovalyov, Business FM radio reported Friday.



print




Most Read
advertising
Moscow Directory
DELIKATNY PEREEZD

Local & intercity moves...

LA BOTTEGA

Over 170 wines on the wine list, mainly from Italy, France and Spain...