Published: 7 march 2013 10:37

Lithuania promises to create favorable climate for shale gas investors

Environment Minister Valentinas Mazuronis, who is visiting the United States this week, says that Lithuania intends to create a favorable environment for foreign investors planning to explore for and extract shale gas in the country.
Valentinas Mazuronis
Luko Balandžio nuotr. / Valentinas Mazuronis

"We expect to create a favorable investment environment for foreign investors and, at the same time, to work closely with local communities. Shale gas extraction must be beneficial both to land owners and local communities, and the state. We must work together to ensure that the result is beneficial to all of us," he said in a press release.

The US has been extracting shale gas and oil for more than a decade, technologies have advanced significantly, and authorities, communities and companies have found common ground, the minister said.  

Mazuronis met with members of the US House of Representatives' Committees on Natural Resources, Energy and Commerce, and with Carlos Pascual, the State Department's assistant secretary for energy resources, who said that the US was ready to share its knowledge and expertise.

Chevron is the sole bidder for the right to explore for shale gas in Western Lithuania, but its plans have met with strong opposition from the local community. The government is expected to decide this month if to name the US energy giant the winner of the bidding.

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