The WSJ has an interesting article on the potential for shale development in eastern Europe: “At least part of the region’s motivation in embracing these partners is obvious: to get out from under Russia’s thumb. According to a May study by consultancy KPMG, 69% of the gas consumed in Central and Eastern Europe is imported, nearly all of it from Russia. A string of disputes over transit fees between Russia and Ukraine—the main gas corridor to Eastern Europe—has pushed some countries to seek other sources of supply. *** The majors are bringing with them key technologies successfully tested in North America, such as horizontal drilling and hydraulic fracturing—unlocking the gas by blasting rock with sand, chemicals and water.”
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