The Finance Ministry has proposed to raise the gas severance tax for independent producers


The Ministry of Finance proposed to increase the met on gas and gas condensate not only for Gazprom but also for independent gas producers within the framework of filling the budget in 2017. This was told “Kommersant” several sources familiar with the idea. According to one of them, in General, the Ministry of Finance plans to collect gas sector additional 179 billion rubles to the database this year due to the increase in the severance tax.

Initially, as the newspaper was considered a variant in which, as in the current year, the severance tax will be increased only for “Gazprom”. In 2016, the Ministry of Finance planned to raise the subject of additional exemptions from this company 555 billion rubles gas severance tax, but these plans were based on the average oil price of $50 per barrel. While it was lower for January—August the weighted average cost was $30 per barrel, so for seven months I was able to collect 293,3 billion.

In 2017 the Ministry of Finance proposes to increase the burden on “Gazprom” at 79 billion rubles., another 100 billion rubles is to take away from independent gas producers.

In the Ministry, Gazprom and independent producers (NOVATEK, Rosneft, LUKOIL and Gazprom Neft declined to comment. The energy Ministry said it had not received such written proposals of the Ministry of Finance, but in favor of “stabilizing the tax burden for the oil and gas industry.”

As writes the edition, the Cabinet is discussing the increase in the tax burden for the oil industry it is proposed next year to further withdraw 200 billion. But the mechanism of the increase in taxes on gas while at an earlier stage of the discussions. At the moment not taken a final decision on such a load distribution, and its discussion in the government and companies have said the interlocutors of “Kommersant”.

As the newspaper notes, is still independent gas producers were able to make the tax burden on them has grown less, than “Gazprom”. A key argument of NOVATEK and “Rosneft” was that at “Gazprom” there is an additional margin at the expense of exports of the gas to which no one else is allowed. Independent producers will be protected and will try to reduce the volume of withdrawal, in comparison with the stated Ministry of Finance level, say all the sources, “Kommersant”.

According to the assessment of Alexei Kokin of “URALSIB” in the case of the variant of the Ministry of Finance, the tax burden, NOVATEK will increase by about 35-37 billion rubles, “Rosneft” — 34 billion rubles. “Gazprom Neft”, according to the calculations of Kommersant, may lose about 16 billion rubles, According to Kokin, this is a sensitive amount for companies, given the situation in the industry and the prospects of continuing low oil prices.

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