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Russia Considers Tax Breaks for Yamal LNG project

Russia may exempt Novatek's Arctic LNG project from the mineral extraction tax, Deputy Finance Minister Sergei Shatalov said during a visit to the city of Novy Urengoy on Monday

Russia Considers Tax Breaks for Yamal LNG project

The Russian government has agreed to raise the mineral extraction tax on gas by 61 percent from January 1. The proposed increase has yet to be voted on in the Duma, but Shatalov said on Monday it should have no problem winning approval.

Shatalov added that only gas produced by Russia's largest independent gas producer, Novatek, for its large LNG project is being considered for an exemption from the mineral extraction tax.

"Right now its the only one," said Shatalov.


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