PRESS: Rosneft asks parliament to cut 2024–2026 gas MET increase

MOSCOW, Oct 25 (PRIME) -- Oil major Rosneft asks to amend a bill that increases the mineral extraction tax (MET) on gas in 2024–2026 to make the multiplier coefficient flat for every producer, as low as Gazprom’s, business daily Kommersant reported on Wednesday citing sources.

According to Rosneft CEO Igor Sechin, the rate will rise by 421–558 rubles per 1,000 cubic meters for independent producers and by 143–169 rubles for Gazprom.

The State Duma, parliament's lower chamber, earlier passed in the first out of three readings a bill, which would raise the gas MET additionally in 2024–2026. The bill is aimed at taxing windfall income arising from the growth of the wholesale prices to the state budget.

Sechin said that the tax will rise for all the gas produced by Rosneft, while about half it is sold to the electric power stations, which will not have their tariffs increased. This means that tax collection will be twice as much as its revenue from whole gas price growth.

(93.5224 rubles – U.S. $1)

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