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Czech Republic Oil & Gas Report Q4 2012 - New Market Research Report

Fast Market Research recommends "Czech Republic Oil & Gas Report Q4 2012" from Business Monitor International, now available

 
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Boston, MA -- (SBWIRE) -- 12/12/2012 -- BMI View: Crude processing capacity is to shrink thanks to unfavourable refinery economics, while long-term exploration upside potential hangs on preliminary interest in shale gas permits and increased risk that the government will delay shale activity for two years. Overall, there is relative energy stability in the Czech Republic, with oil and gas imports rising slowly but steadily.

The main trends and developments we highlight for the Czech Republic's oil and gas sector are:

- The Czech Republic's environment ministry is looking to freeze shale gas exploration for two years to allow it to draft and implement new legislation. The ministry aims to establish a clear legal and technical framework so that any disputes that arise during shale gas exploration can be resolved under sound arbitration procedures, according to Environment Minister Tomas Chalupa. Several domestic and foreign companies had earlier applied for shale gas exploration permits, including the UK's Cuadrilla Resources and Basgas Energia Czech, a unit of Australia-based Basgas. Domestic upstream company MND has also applied for an exploration permit.
- Consumption of natural gas fell during 2011, dampened by a decline in manufacturing and warm weather. However, the fuel is finding increased residential/commercial use and may displace coal in future power generation projects. BMI is assuming that overall demand will rise from an estimated 8.8bn cubic metres (bcm) in 2012 to around 10.1bcm by 2016, then reach 11.0bcm by 2021. Carpathian Resources has identified potentially gas-bearing structures for future drilling; however, we do not expect to see domestic gas production rise above 0.2bcm over the medium term.
- Czech financial group KKCG is expected to make a tentative offer for Czech long-distance gas network operator Net4Gas, currently owned by Germany's RWE Transgas. Daily newspaper Hospodarske Noviny cited an unnamed source as saying about 10 companies are expected to bid in the tender. RWE plans to sell Net4Gas, which operates a 2,500 kilometre (km) Czech gas pipeline, as part of its broader aim to sell up to EUR7bn of assets by the end of 2013. A source close to the transaction said the only bidders were KKCG and Energeticky a Prumyslovy Holding (EPH).
- In 2012, BMI forecasts the Czech Republic will consume 194,300 barrels per day (b/d) of oil. Using our current GDP growth forecasts, it is unlikely that short-term oil demand will increase dramatically. Assuming an average rise in consumption of no more than 1.5% per annum, below the CEE norm, demand will reach 211,000b/d in 2016, then 227,000b/d by 2021 - implying end-period imports of around 218,000b/d.

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