Lithuania: fracking gets trickier | beyondbrics

Lithuania: fracking gets trickier | beyondbrics:

"

Shale gas and oil have more than usual appeal for Lithuania, where the government is eager to reduce its dependence on imports from Russia.

But a combination of environmental protests and government plans to hike royalties to the highest level in the world are creating daunting obstacles to investment. Chevron, the US oil major, could be the first to baulk at the new barriers.

At issue is a tender for the exploration and production of non-traditional hydrocarbons in the Silute-Taurage block in the western part of the country, bordering on the Russian enclave of Kaliningrad. The tender appears to have hit stalemate.

"

'via Blog this'