Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Lithuania Plans New Tender for Shale-Gas Rights on Chevron Exit

Oct. 29 (Bloomberg) -- Lithuania plans a new tender for shale hydrocarbon exploration rights and will revise licensing terms after Chevron Corp. withdrew as sole bidder from a previous contest.

The Lithuanian Geology Service was instructed by a tender commission “to assess the changed legal and tax environment and present the documents to organize a new tender,’ Vice Environment Minister Daiva Matoniene said today in a statement on the ministry’s website in Vilnius, the capital. The rights for the sale are to explore and produce shale hydrocarbons in the western Lithuanian region of Silute-Taurage.

The Baltic nation wants to know if its shale resources are sufficient to be an alternative to energy imports from Russia. U.S. energy company Chevron abandoned its bid for exploration rights on Oct. 8, put off by regulatory and tax issues, Prime Minister Algirdas Butkevicius said at the time.

‘‘This is a good decision,” Economy Minister Valentinas Mazuronis said in the same statement. “Refusing to explore for shale gas or oil would be unfair to Lithuania as a whole.”

To contact the reporter on this story: Bryan Bradley in Vilnius at

To contact the editor responsible for this story: Balazs Penz at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.