Lithuania to Revise Shale Gas Laws before New Tender
Lithuania’s Prime Minister Algirdas Butkevicius suggested that his country should consider a revision of the laws regulating shale gas operations in the Baltic country.
The comments came after shortly after Chevron’s retreat from a tender for a license to explore for shale oil and gas in the 1,800 square kilometre Silute-Taurage prospect.
“It is worth a fresh look at those laws with an eye to preparing and eventually announcing a new tender,” Butkevicius said on Laisvoji Banga radio, not providing a schedule for the revision and the eventual new tender.
Chevron was the only company submitting a bid in the January tender for E&P rights in the Silute-Taurage prospect. Lithuanian experts had estimated that the prospect might hold up to 80 bcm of technically recoverable shale gas.
Related Reading: Chevron to Abandon Lithuanian Shale Gas Development