Report Published: "Czech Republic Oil & Gas Report Q3 2014"
New Energy research report from Business Monitor International is now available from Fast Market Research
[UKPRwire, Wed Jun 11 2014] With a moratorium on shale gas exploration, the Czech Republic will remain highly dependent on imported fuel, as conventional hydrocarbons potential is limited. Demand trends are not strong, but refinery disruptions and the closure of the Pardubice refinery show that the domestic fuels market is in a precarious state of balance. This, in turn, has prompted the government to investigate ownership options for the national refining segment, with Shell having sold its 16.33% stake in Ceska Rafinerska to Unipetrol in January 2014.
The main trends and developments we highlight for the Czech Republic's oil and gas sector are:
* Plans to freeze shale gas exploration for two years to allow the government to draft and implement new legislation have found plenty of support, meaning that drilling activity is unlikely until post-2014. In May 2013, Czech Prime Minister Petr Ne?as reiterated that shale mining was not on the agenda and that the moratorium on shale gas exploration would be maintained, stressing that the adoption of relevant legislation would be a precondition of shale gas prospecting and mining. However, the recent events in Ukraine and the standoff between Russia and the EU has brought the reliability of Russian gas supply under the spotlight. Given that the Czech Republic is highly dependent on Russian gas, the situation could convince policy makers to lift the moratorium and allow shale gas exploration in the near future.
* Natural gas production is negligible, standing at 0.2bcm production level in 2013. We do not expect to see domestic gas production rise above 0.2bcm over the medium term. We rather expect a decline in production to an estimated 0.1bcm in 2023.
* Consumption of natural gas fell during 2012, dampened by a decline in manufacturing and warm weather. With increasing use of gas in the residential/commercial sector, and with a possible replacement of declining nuclear power generation by gas-fired power plants over the long term. We...
Full Report Details at
The Czech Republic Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Czech Republic including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.
BMI's Czech Republic Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Czech oil and gas industry.
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