Lithuanian Geology Agency has cancelled a tender planned for possible investments in exploration and exploitation of shale gas reserves that could have been around 100 billion cubic meters.
Lithuanian Geology Agency has cancelled a tender planned for possible investments in exploration and exploitation of shale gas reserves that could have been around 100 billion cubic meters.
The exploration could have been organized in Western Lithuania, but Lithuanian Minister of Environment says that Lithuania lacks serious investors, as shale gas exploitation has become too expensive in the context of the oil price decrease.
Several years ago, a potential investor Chevron abandoned its plans to explore Lithuanian shale gas after protests and legal tax framework changes.
Shotlist
LRT footage of shale gas stations filmed in Poland, 2014 June
Soundbite (Lithuanian)
KĘSTUTIS TREČIOKAS, Minister of Environment:
We did a huge work, we informed representatives abroad, and they tried to reach potential investors. There were several serious investors, but finally they said that based on our geological data that we had submitted them, our resources aren’t of interest to them and they politely withdrew.
Soundbite (Lithuanian)
