Lithuania may start a tender for shale gas exploration in the country, according to Kestutis Treciokas, Lithuanian Environment Minister on Wednesday.
Treciokas told Baltic News Service, BNS that he and the Lithuanian Energy Minister Rokas Masiulis have agreed to meet next week, bring all information together and make a proposal to the government.
'As far as I know, there isn't much optimism. Thus, the launch of the tender process may be put off again,' Treciokas said.
Minister said that fallen oil and gas prices may be a chance to attract interest on shale gas exploration.
American energy company Chevron, who won the tender for shale gas exploration in Lithuania, was working on this issue and committed to invest $80 million in Lithuania for the exploration license for seven years. However, in 2012 the company announced that it was leaving the country due to an uncertain legal framework for the company's shale projects.
Last May, Lithuanian government extended the time limit for launching a new tender for shale oil and gas exploration in western Lithuania for four months.
According to unofficial data, Lithuania may have around 100 billion to 120 billion cubic meters of recoverable shale gas reserves.
By Murat Temizer
Anadolu Agency
murat.temizer@aa.com.tr