A change in taxation on shale gas and other hydrocarbons has been proposed in Lithuania

The idea of the proposal is to increase lower limits, without increasing the ceiling. Additionally the idea of not taxing wells but rather the total amount of materials extracted by a company is being considered. The changes will be discussed with businesses with the goal of compromise. According to the Minister of Environment Valentinas Mazuronis, amendments to the law should be ready within a month, and, after the changes in taxation, a decision on the competition for new shale gas exploration and production will be made. Last year the United States energy company Chevron withdrew from such a competition, explaining their decision by saying the legal environment in the country was unstable.