engleski

Minimization of risks during development of unconventional gas projects

The unconventional gas reserves in Europe are predicted to 35×1012 m3. However, due to lack of exploration activities these predictions are rather conservative. Due to contemporary technology and gas prices, gas production from these reservoirs is much more complex comparing to gas production from conventional reservoirs. Risk management, strict regulations and environmental protection legislation in Europe further contribute to the complexity of unconventional reservoirs’ development. In the first quarter of 2013, the European Commission organized major consultation with general public, organizations and public authorities about the development of unconventional gas reservoirs in Europe. Results of these consultations are being fed into the European Commission’s “Environmental, Climate and Energy Assessment Framework to Enable Safe and Secure Unconventional Hydrocarbon Extraction.” Until the publication of this EU- wide risk management framework is done, and without clear European Union policy direction, the issue is in the hands of politicians in the member states. The overall recommendations for energy sector, concerning development of unconventional gas reservoirs are presented in the paper. By implementation of stated recommendations into contemporary legislation and by introduction of new legislation framework concerning unconventional gas development, State Government can develop a much anticipated legislation that could provide greater regulatory clarity and certainty for investors (operating and service companies), including a uniform system of concessions and taxes and also risk minimization.

Unconventional gas; risk management; regulatory framework

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