Russia introduces tax relief for new Arctic LNG projects
3/19/2020
Russia introduced fresh tax relief for new liquefied natural gas (LNG) projects in the Arctic, focused on those intended to come on stream from 2022, the text of a law signed by President Vladimir Putin showed.
The zero-rate extraction tax on natural gas will primarily benefit independent gas producer Novatek, which plans to boost production in the region. The law also included taxation support for the Vankor group of oilfields being developed by Rosneft.
Reporting by Anastasia Lyrchikova and Katya Golubkova; Writing by Polina Ivanova; Editing by David Goodman
Sign up to Receive Our Newsletter
- ADNOC Gas awards $2.1 B in contracts to enhance LNG supply infrastructure
- U.S. Department of the Treasury releases final rules for clean hydrogen production tax credit
- Tecnimont to build waste-to-biogas plant to fuel local kitchens in India
- Indonesia regulator confirms disruption at bp's Tangguh LNG project
- Topsoe, Aramco sign JDA to advance low-carbon hydrogen solutions using eREACT™
Comments