Chevron Expresses Interest In Shale Gas Deals In Poland And Romania
Chevron (NYSE:CVX) is looking into shale gas deals in Poland and Romania, Corporate Vice President John Gass said on Monday. Gass said the company foresees dynamic growth in the demand for natural gas in the coming years. Last week the company announced increased drilling for unconventional gas and oil in the U.S. and elsewhere as part of a plan to raise production 1% this year. The company expects to drill 70 wells in the Marcellus Shale, a huge source of new gas production located primarily in central Pennsylvania and western New York. Chevron gained access to the shale with its acquisition of Atlas Energy in February. The company is also starting work on an expansion at its Gorgon liquefied natural gas project in Australia, in order to capitalize on rising Asian demand for cleaner burning fuels.