Chevron Is Only Bidder for Lithuania Shale-Gas Rights, BNS Says

Chevron Exploration and Production Lietuva, a Lithuanian subsidiary of Chevron Corp. (CVX), submitted the only bid in a tender for shale-gas exploration rights in the Baltic nation, Baltic News Service reported.

If the bid is accepted, the company would need to invest at least 80 million litai ($31 million) in exploration of the Silute-Taurage field in western Lithuania, the newswire said, citing the head of the geological service, Juozas Mockevicius.

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

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