Oil-rich Poland to dominate Eastern Europe?
In a dramatic development, Poland has discovered the largest oil and gas deposit in its history just off its Baltic Coast, containing 22 million tons of crude oil and 5 million cubic meters of natural gas, with more likely located in the area. The find, which has been hailed as a “breakthrough,” marks one of the most significant energy discoveries in Europe in the last decade, and will more than double Poland’s current oil reserves, which sit at just over 20 million tons. The find is located just shy of the German border, off the coast of the port city of Świnoujście (Swinemünde) in northwestern Poland.
Why it matters: The discovery of this deposit will not only massively help Poland diversify its energy resources and move it closer to energy independence, but may also allow it to emerge as a much more serious regional oil and gas exporter, potentially weakening the reliance of countries like Slovakia, Hungary, and other Central European states on Russian energy. While such an outcome is still years away, with this find, Poland may now be poised to become an even more influential player in Europe, not just as a political and military heavyweight, but as a provider of energy security as well — as long as it plays its cards right and avoids letting domestic political squabbling squander this immense geopolitical opportunity.
The Eastern Flank.