In russian federation, the profits taxes from LNG are increasing

Starting next year, russia will increase the income tax rate for LNG producers.

As a result of the sanctions, russian LNG producers will be forced to pay 32-34% of their profits taxes. Currently, the rate is 20%.

At a rate of 32%, the Ministry of Finance of russia estimated the additional income of the federal budget from this tax at 200 billion rubles.

It must be recalled, that the EU countries are gradually abandoning russian gas. In particular, Greece and Bulgaria have already started operating the pipeline , which will help reduce Southeastern Europe’s dependence on russian gas. Finland also plans to completely refuse from russian LNG.