May 28, 2023


Complete Canadian News World

Novatek asks the Kremlin for help. He wants to cut taxes

Novatek asked the Russian government to reduce additional taxes. New tax base In connection with the settlement of exchange differences introduced by the Ministry of Finance, the company had to pay an additional 40 billion rubles Kommersant reports.

According to the Board of Directors of Novatek Corporation Increasing taxes from 20% up to 34 percent from 2023 threatens funding for the upcoming Arctic LNG-2 and Ob LNG projects. Especially because of the sanctions and the withdrawal of Western companies, Novatek is facing difficulties in obtaining external financing of the required size. It is therefore forced to finance most of the costs of Arctic LNG 2 and Ob LNG itself.

The Kremlin is looking for money, and half of that tribute goes directly to Russia’s federal budget, Kommersant notes. The new interpretation of the regulations is expected to add additional funds to the budget 268 billion rubles of income tax from these Russian companies.

Novatek CEO Leonid Mikhelson He asked the government to postpone it for his flagship Yamal LNG project to pay an additional amount of income tax for 2022 i Propose a lower tax rate Kommersant writes.

Russia earns from liquefied natural gas

As we wrote in, along with a radical decrease in pipeline supplies to Europe, LNG imports to the Old Continent also increased. While most supplies came from the United States, followed by Qatar, Russia also benefited.

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