Chevron Draws Europe Toward Natural Gas Independence: Energy
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Chevron Corp. is betting it can win over eastern Europeans with the idea of energy independence even after dry wells and government delays led Exxon Mobil Corp. and Talisman Energy Inc. to scrap efforts to tap natural gas deposits in Polish shale.
Bringing shale drilling to Europe from North America promises to help the region ease years of dependence on Russian fuel and hurts the Kremlin’s ambition to secure the country’s future as an energy superpower. Use of hydraulic fracturing, or fracking, upended the U.S. gas industry, which overtook Russia as the biggest producer, driving prices to a decade-low.