Estonian oilshale may lose its value

Eesti Energia CEO Sandor Liive says that if the EU continues to toughen its climate policy, the value of the Estonian oilshale may plummet in 30 to 40 years.

„To the best of our knowledge today, the faster the state, the owner of our oilshale, uses oilshale the more value it will get out of it,” Liive said, speaking  at a press conference hosted by Eesti Energia.

„While at today’s rates, the Estonian oilshale may be worth EUR 18 billion, it could fall to zero in thirty to fourty years,” he added.

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