Poland may tax shale gas by 2015

A pedestrian passes the German-Polish border in Ahlbeck, northern Germany, Thursday, Nov. 22, 2007. Citizens from nine new E.U. member nations, most in Eastern Europe, among them Poland, will be able to travel passport-free to most other countries in the bloc as of Dec. 21, 2007. (AP Photo/Frank Hormann)

Taxing: Poland looks to grow coffers with proposed tax on shale gas

AP Photo/Frank Hormann

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By News Wires

 22 February 2012 20:04 GMT

Poland may tax shale gas production as of 2015, an official said on Wednesday, as the country hopes future extraction of the commodity would generate fresh state budget revenues on top of boosting its energy security.



Poland granted more than 100 exploration permits, issuing them to global majors such as Chevron and ExxonMobil , after a US agency estimated the country could have Europe's largest shale gas reserves of some 5.3 trillion cubic metres.

Though that has not been confirmed yet, Warsaw is already drafting legislation applicable should the shale drive move into a production phase, Reuters reported.

"Commercial extraction may be possible as of 2015, so we can preliminarily target that date as one when the tax could start functioning," deputy finance minister Maciej Grabowski told…

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