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Article: United States : ConocoPhillips Joins Quest For Eastern European Shale Gas.
- Article from:
- TendersInfo
- Article date:
- September 29, 2009
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ConocoPhillips (COP), one of the largest natural gas producers in North America, sees a future in Europe's gas deposits. And it isn't the only U.S. major to think so.
Through a recent foray in Poland, the Houston-based company has become the latest U.S. oil giant to explore European unconventional gas resources as a potential source of growth. Exxon Mobil Corp. (XOM), the world's largest publicly traded oil company, already has significant acreage in Germany and a venture in Hungary.
The move comes at a time when demand for gas produced in Europe is expected to grow vigorously as countries intensify their efforts to reduce their dependence on Russia as a ...