Subscribe free to our newsletters via your
. Energy News .

Poland to invest 24 billion euros in energy by 2020
by Staff Writers
Warsaw (AFP) Nov 21, 2012

Up and coming EU member Poland will invest 100 billion zloty in its energy sector by 2020, the prime minister said summing up plans Wednesday.

An EU nation of 38.2 million, Poland currently relies on its vast coal reserves to produce about 90 percent of its electricity. Annual natural gas consumption stands at around 14 billion cubic metres, a third of which is supplied by Russia.

Poland is Central Europe's largest economy and ranks sixth in Europe. It has sustained growth each year over the two decades since it shed communism, this despite the downturn in much of Europe since 2008.

To fuel that growth, Warsaw is developing alternatives from scratch in the nuclear and shale gas sectors. It is also keen to meet EU targets on reducing greenhouse gas emissions and to assure strategic energy independence from Soviet-era master Moscow.

"It's the beginning of a large wave of investment in the Polish energy sector, which including our nuclear projects, will exceed 100 billion zloty (24 billion euros, $31 billion) by 2020," Prime Minister Donald Tusk told reporters.

"These investments have a strategic dimension," Tusk said, adding that "today, energy is the key to politics".

Eight new power plants that will cover about 17 percent of Poland's annual energy needs are in the offing -- half coal-fired, half to run on natural gas -- worth a total 40 billion euros, he said.

Forty million zloty is also earmarked for Poland's first nuclear reactors due to be up and running by 2024.

Three nuclear power giants have expressed interest in building the atomic facility, including the French groups EDF and Areva, and the US and Japanese firms Westinghouse Electric and GE Hitachi Nuclear Energy Americas.

A liquefied natural gas (LNG) terminal on its Baltic coast and natural gas pipeline connectors to neighbours worth 18 billion zloty are also planned

Five billion zloty are earmarked to explore and develop shale gas at home, where some estimates suggest Poland could have up to 1.92 trillion cubic metres (67.8 trillion cubic feet) of exploitable shale gas deposits, possibly the third largest reserves in Europe behind Norway and the Netherlands.

Global groups Chevron, ConocoPhillips and Talisman Energy are involved in the Polish shale gas exploration programme.

Total investment in exploration and development of the sector in Poland by both domestic and foreign companies could reach 12.5 billion euros.


Related Links

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Analyzing the cost of federal and other renewable energy subsidies in Texas
Austin TX (SPX) Nov 20, 2012
Texas Public Policy Foundation analysts Bill Peacock and Josiah Neeley has released a new report, The Cost of the Production Tax Credit and Renewable Energy Subsidies in Texas. The Production Tax Credit (PTC), a federal tax credit which subsidizes the production of renewable energy, is set to expire at the end of 2012. "The continuation of the Production Tax Credit will cause more disrupti ... read more

Poland to invest 24 billion euros in energy by 2020

Analyzing the cost of federal and other renewable energy subsidies in Texas

High Risk Investing - The New Trend in Energy

EC seeks to 'backload' emission allowances

Boston said riddled with natural gas leaks

Repsol will drag Argentina through courts

Indonesian foreign oil investment at risk?

Exxon warns on Nigerian production after oil spill

Areva commits to Scotland turbine plant

AREVA deploys its industrial plan to produce a 100 percent French wind power technology

Gannets could be affected by offshore energy developments

Scotland approves 85MW Highlands wind farm

Silicon Energy Announces Next Gen Solar Photovoltaics

Trina Solar offers certified Building Integrated PV solutions for residential and commercial roofs

Major advance in using sunlight to produce steam without boiling water

PROINSO donates PV products for PV-diesel hybrid energy system

Coal mining ruining China uranium deposits

Czechs delay nuclear plant deal over Areva complaint

AREVA hosts second global Nuclear Executive Meeting with the world's leading utilities

Coastal Commission Denies PG and E Seismic Testing Permit

White rot fungus boosts ethanol production from corn stalks, cobs and leaves

14,000 Jobs Possible from Military Biofuels Initiative

Airbus, EADS and ENN make a push for new generation aviation fuels

A Better Route to Xylan

Mr Xi in Space

China plans manned space launch in 2013: state media

China to launch manned spacecraft

Tiangong 1 Parked And Waiting As Shenzhou 10 Mission Prep Continues

Targets for limiting global warming further out of reach: UN

Climate change may increase Europe's north-south divide: EU

Goal of curbing global warming further out of reach: UN

Greenhouse gases rise to record levels in 2011: UN

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement