OMV Gives Up Fracking Plans

EnergyOil & Gas ♦ Published: September 17, 2012; 19:52 ♦ (Vindobona)

The Austrian oil and gas company announced that there will be no shale gas production in Austria.

OMV Gives Up Fracking Plans / Picture: ©

Due to economic reasons, OMV gives up its fracking plans. The production would not be profitable, the company said. This was confirmed by an environmental impact assessment “We have stopped the works for months. At the moment, the project would not be profitable. There are no further plans regarding the shale gas production in Austria for the time being.” OMV´s director of E&P…