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Shale gas production economically irrational in Russia, says minister

December 06, 2013, 22:27 UTC+3 WASHINGTON
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WASHINGTON, December 06, (ITAR-TAS). Production of shale gas on a commercial scale is economically irrational in Russia at present, Russian Energy Minister Alexander Novak said as he answered a question from Itar-Tass after an industrial seminar hosted by the Russian embassy.

“I never said we don’t have any interest in this (shale gas production - Itar-Tass) but I said production of shale gas is costlier than of natural gas and that’s why it’d be economically irrational to produce shale gas on a commercial scale right now,” Novak said.

Along with it, Russian companies have a number of experimental wells for shale gas, he said adding that it would be interesting to study the U.S. experience in the sphere “and to see how it is produced here.”

His itinerary for Saturday includes a trip to a company engaged in this sphere of energy resource production.

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