Energy, Gas, Legislation, Lithuania

"I have been closely monitoring the process of preparations, we are continuously coordinating various provisions. At present a part of legislation is still coordinated, while the rest part of legislation is already handed over to the Government. While planning we see it is realistic to launch a repetitive shale gas tender in late May or early June. The issue of energy independence becomes increasingly important," says Mazuronis in a statement, released by the Ministry.

Lithuania's Geological Service has already drafted and submitted for coordination regulations regarding the use of hydrocarbon resources: new terms and conditions of the tender, new classification of hydrocarbon resources and draft amendments to the Law on Environmental Impact Assessment of the Proposed Economic Activity. It is established that environmental impact assessment will be strengthened and made compulsory when hydraulic fracturing technology is applied.

Meanwhile, having assessed oil taxes and the global context, the Ministry of Environment has already submitted draft amendments to the Law on Taxes on Oil and Gas Resources, which will be considered by the Government's Strategic Committee on April 10.