International Internet Magazine. Baltic States news & analytics
Wednesday, 25.05.2016, 19:53
Lithuania holds first shale gas exploration tender
"Shale gas could become a realistic and economically competitive alternative to natural gas supplied by Gazprom, now the sole gas supplier," the ministry said in a statement.
The Government plans to issue licenses for exploration in two fields – Silutes-Taurages with 1,800 square km and Kudirkos-Kybartu with 281 square km, writes LETA/ELTA.
The deadline to table the proposals runs four months from Wednesday, and exploration contracts are expected to be signed in the first quarter of 2013, the ministry added.
The State Geological Service estimates that Lithuania's geological formations hold up to 500 billion cubic metres (bcm) of gas, though economically recoverable reserves could be a tenth of that.
A study by the U.S. Energy Information Administration has said Lithuania could have recoverable reserves of 113 bcm.