15min: Lithuania's shale gas potential among highest in Central-Eastern Europe

"The results of the KPMG index showed that Lithuania is among the most attractive countries for shale gas production due to its potentially significant reserves and favorable investment environment. The US company Chevron's arrival in Lithuania and attention paid to Lithuania by the Polish group Lotos together with another US company, CalEnergy Resources, prove that Lithuania's shale gas reserves are interesting to large international players as well," Rokas Kasperavičius, a KPMG partner, said in a press release on Wednesday.

According to the study, " Poland, Romania, and Ukraine have the highest shale gas development potential, followed by Lithuania, Hungary, and Bulgaria, which, while having good initial indications of unconventional gas reserves, have somewhat lower potential than their larger neighbors."  MORE