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February 8, 2023
BUSINESS

USA report: Romania has the equivalent of 100 years’ use shale gas reserves

Romania holds 51,000 bn cubic feet shale gas reserves, meaning 1,444 bn cubic metres, the US Energy Information Administration (EIA) estimates, with proven gas reserves of 113 bn cubic metres, Mediafax informs. Romania consumes approximately 14 bn cubic metres of gas every year, 80 per cent of which comes from local production. The balance is imported from Russia, via proxies, at high prices. Romania is the third country in the EU in terms of its shale gas reserves, after Poland 4,190 bn cubic metres) and France (3,879 bn cubic metres), EIA report says. In what regards the oil caught up between the rock masses in Romania, EIA estimates a volume of 300 bn barrels compared to proven estimated reserves of 600 M barrels from other types pf deposits. The US institution expects the existing schist gas would increase Romania’s oil reserves by 50 per cent and the natural gas reserves over ten times.  BNR Deputy Governor Bogdan Olteanu has recently said European Union countries, including Romania, could realise in time they have directed the already scarce resources they had for the wrong purposes such as alternative energies, unlike other states that had foresight and decided to drill for the shale gas obtaining cheap energy and re-boosting their industries.

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