FX.co ★ Gazprom assesses shale gas production prospects in Poland and Ukraine

Prospects of shale gas production in Poland and Ukraine are overestimated, Lenta.ru, an independent Russian news site, announced following the latest Board of Directors meeting at Gazprom.
"As expected, shale gas production prospects in Poland and Ukraine turned out to be significantly overestimated and all international operators waived further participation in projects in these countries by now," the statement reads.
Experts at Gazprom noted that the interest in shale gas is declining in the current environment. Most oil and gas majors have already announced their decision to cut investments or completely abandon participation in shale projects, especially in China, Australia, and Eastern Europe.
Amid lower global hydrocarbon prices, the number of active drilling rigs in the US contacted by over 60% last year. Analysts at Gazprom find it unlikely that Canada will develop shale gas production in the mid-term, as well as China where the industry growth does not match the targeted rate set by the government. Besides, the European countries can hardly start development of shale gas extraction in the nearest term, Gazprom said.