Lithuania Shale-Gas Tender Draws Interest From U.S., BNS Reports

Lithuania’s tender for shale-gas exploration rights has drawn expressions of interest by more than 10 companies from the U.S., Canada and elsewhere, Baltic News Service reported citing the Lithuanian Geological Service.

Bids are due Jan. 14 for licenses to explore for hydrocarbons at two fields with total area of about 2,000 square kilometers, the newswire said today.

A study last year showed the Baltic nation’s territory may have more than 100 billion cubic meters of shale gas, BNS said.

Chevron Corp. (CVX), which last year bought 50 percent of a local oil recovery company, and Poland’s Grupa Lotos SA, which has a Lithuanian unit, have both said they intended to seek shale gas in Lithuania, according to BNS.

To contact the reporter on this story: Bryan Bradley in Vilnius at bbradley13@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net