Wildhorse Energy signs cooperation agreement with gov’t on UCG regulatory development
Wednesday, July 18, 2012, 11:20 AM CET
Australia's Wildhorse Energy on Wednesday said it signed a cooperation agreement with the Hungarian government to formalize the legislative and regulatory framework required to develop underground coal gasification (UCG) projects in Hungary.
"Both parties believe that this could provide Hungary with an opportunity to develop its extensive stranded coal reserves and potentially provide the blue print for UCG project development across Europe as governments seek to develop their own resources and establish energy independence," according to the statement.
"The potential for UCG to establish itself as an important technology in the region is increasingly being recognized due to its ability to capture the energy content from billions of tons of stranded coal assets in a ‘frack-free’ way," said Wildhorse Energy managing director Matt Swinney.
"As a result of the cooperation, Hungary is poised to become a regional leader in UCG with regards to the legislative framework and deep pool of required skills and expertise," Wildhorse Energy said.