Abstract
This article focuses on the oil and gas supermajor, ExxonMobil, and its business in the unconventional gas field in Europe. The purpose was to investigate whether and how ExxonMobil runs its natural gas operations differently among European countries and possible reasons for divergent strategies. After a brief introduction of the firm, ExxonMobil’s approach in Europe in general will be discussed. Two countries are in focus: Poland and Germany. The key finding is that the firm indeed has shown different approaches and strategies. In Poland, ExxonMobil faced a supportive, positive environment but quit quickly when its small investment resulted only in disappointing results. The firm, however, was a newcomer which had not much to lose. In contrast, its German unconventional gas operations are connected to broad conventional activities and are being defended by an extensive effort to win back public support. Keywords: energy, energy policy, ExxonMobil, fracking, Germany, hydraulic fracturing, Poland, public acceptance, regulatory politics, shale gas, unconventional gas, USA
Highlights
ExxonMobil, an American multinational corporation, is one of the most active companies in the field of unconventional gas exploration in Europe
When ExxonMobil ran test wells in 2011 in Poland but quit the country in 2012, it sent a disturbing message to investors, operators and energy policymakers in Poland, a country both rich in shale gas reserves and very supportive of shale gas development
Like other major oil companies, ExxonMobil arrived late to the scene. It was through the 2010 takeover of XTO Energy, a specialized unconventionals firm and the largest gas producer, that ExxonMobil firmly established itself as a natural gas major
Summary
ExxonMobil, an American multinational corporation, is one of the most active companies in the field of unconventional gas exploration in Europe. The most prominent investments for this company were placed in Poland and Germany. The firm has dug in its heels in Germany, which has much less shale gas to offer, a difficult regulatory environment and strong political opposition. When Germans turned hostile, the firm committed to fighting for public acceptance. In Germany, ExxonMobil began exploration in 2008 but was forced to stop. ExxonMobil has proclaimed that “Germany (is) more likely to be the first shale gas producer” in comparison to Poland (Bergin, 2012). Poland and Germany are quite different in the way they pose challenges to ExxonMobil’s business, and the firm has responded in different ways
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