Energy Minister Arvydas Sekmokas quoted American experts as saying that Lithuania could extract not layers, but about 10 billion cubic metres of gas at the value of up to 30 billion U.S. dollars

As soon as year 2012, Lithuania may start works with test drills for shale gas with a private investor. Lithuania has 480 billion cubic metres of shale gas which could produce 100 billion cubic metres of gas, geologists say.

More actions should be taken to determine how much of the gas Lithuania has and what benefit it could bring, Environment Minister Gediminas Kazlauskas said after a meeting with the leadership of the Geological Survey of Lithuania Service, informs LETA/ELTA.

Exploration of shale gas is expensive for the budget and would take long, therefore, it will be aimed to draw investment from foreign companies, the minister said.

Energy Minister Arvydas Sekmokas quoted American experts as saying that Lithuania could extract not layers, but about 10 billion cubic metres of gas at the value of up to 30 billion U.S. dollars. However, according to the minister, these are only theoretical considerations which are not based on geological data. The research project is estimated to cost about 250 million U.S. dollars.

Prime Minister Andrius Kubilius intends to set up a working group on the matter. Lithuania's shale gas resources are expected to meet the country's needs for from 30 to 50 years.

Shale gas resources are possibly situated in south-west Lithuania, extending to the Kaliningrad region and Poland.

Source: http://www.baltic-course.com/eng/energy/?doc=41403