Wednesday, November 3, 2010

ExxonMobil (NYSE:XOM) to Drill for Natural Gas in Germany's Rhineland

News that ExxonMobil (NYSE:XOM) and other energy companies would begin to drill for natural gas in Germany's Rhineland was met with mixed response, although opposition was from radical environment groups and politicians from the country.

Rhineland has already granted Exxon and other firms from Canada, Australia and Germany to drill in the state.

The focus of drilling will be close to the northern Münsterland region. ExxonMobil plans to start drilling in Borken, Steinfurt and Nordwalde soon. Additional regions include the northern and southern Ruhr Valley and counties in Sauerland.

A so-called energy expert for the Greens, Oliver Krischer, alledged, “We are surprised. We didn’t know a thing. The claims were staked quietly and secretly.”

The usual fears of damaging ground water from drilling for the gas has generated opposition from those living in the Münsterland region. It's unlikely it'll hinder the process for the companies.

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