Looking for a specific product?

Make a search for products & suppliers, articles & news.

Gazprom demands more Arctic tax cuts

The gas company requests the government to introduce new major tax cuts for its Prirazlomnoye field in the Pechora Sea.

As previously reported, Gazprom has long worked for a reduced tax regime at its offshore projects and earlier this year managed to get the oil export tax for the Prirazlomnoye project cut by 50 percent compared with standard rates. However, the export tax reduction is not enough, Gazprom argues. According to company leader Aleksei Miller, the project, the first Russian offshore Arctic oil field in operation, should get more benefits.

The additional tax cuts, requested by Miller might be worth up to $2.4 billion, RBC Daily reports.

Gazprom wants the Prirazlomnoye project to be included in the new tax regime for offshore energy projects currently under elaboration in federal ministries. The new beneficial regulations, which will include lower taxes as well as customs tariffs, are meant to apply for projects launched after 1 January 2016. However, Aleksei Miller argues that also project launced before 2016 should be included in the regulations.

Meanwhile, Gazprom’s Prirazlomnoye production platform is lying idle in the ice cold and remote Pechora Sea. As previously reported, the platform, which was moved to the site already in August 2011, will not start production before in late 2013.

It is the Ministry of Finance, the Minstry of Energy and the Ministry Economic Development which are currently involved in the drafting of the new tax regime, which originally was to be presented before 1 October. According to RBC, the three ministries disagree on a number of points in the document.

The new regime is expected to include several levels of complexity according to which the taxes will be adjusted.

Related news

Latest news

Trainee weekend in Hafjell and Bremanger daily life

First joint kick of seminar

Pentair and Stahl Tranberg had their first customer event presenting both companies heat tracing solutions for customers.

Untrue rumours about an on-going incident at the Halden Research Reactor in Norway

The Norwegian Radiation Protection Authority has become aware that stories about an ongoing incident involving a “meltdown” at the Norwegian Institute for Energy Technology (IFE) reactor situated in Halden are currently ci...

Gulf Notified Body meeting in Manama Bahrain

At the end of January, the GSO (Gulf Standards Organization) arranged the first meeting with the present group of 23 Notified Bodies. These Notified Bodies are authorised by GSO to certify the electrical products as curren...

SMART SYSTEM USES POST OFFICE VEHICLES TO ANALYZE ROADS.

During the spring thaw period in Sweden, many small roads are closed to traffic despite the fact that they are fit for use. The BiFi research project has analysed the roads’ bearing capacity in real time using Internet-con...

Children with poor vitamin B12 status early in life struggle more with tasks, recognition and interpreting feelings

Small children with low levels of vitamin B12 had more difficulties solving cognitive tests, such as the ability to do puzzles, recognize letters and interpret other children’s feelings.

BP Awards Schlumberger Contract for Mad Dog 2 Project

Export Conference 2017: A changing world

Register for this year’s most important conference for Norwegian exporters. We can promise you an interesting and inspirational day!

Meet Elkem Silicon Materials at the Ceramics Expo 2017

Elkem Silicon Metrials invites to meet their team at the Ceramics Expo 2017. This is North America’s largest, free-to-attend exhibition for Ceramic manufacturing and applications.