Lithuanian PM defends tax exemption on shale gas extraction
Tuesday, September 23, 2014
Prime Minister Algirdas Butkevičius does not give prominence to the environment minister's concerns that if a three-year tax exemption on shale gas extraction is applied, a deposit would be depleted in that time and the state would not receive income.
Lithuanian Prime Minister Algirdas Butkevičius is planning a visit to the United States where he will meet with representatives of the US energy company Chevron to inform them about changes in the regulatory environment regarding shale gas exploration in Lithuania.
The Lithuanian government on Wednesday approved a new, investor-friendly tax regime for shale gas production which, once endorsed by parliament, will open the way for launching a new tender for a shale gas exploration license.
A meeting with petroleum geology research institutes from the People’s Republic of China (PRC), Sinopec Exploration and Production Research Institute and Wuxi Research Institute of Petroleum Geology, was held in the Lithuanian Geological Survey.
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