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Gas MET race - Independents catching up with Gazprom

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Report summary

The Russian government has approved new, higher mineral extraction tax (MET) rates for independent producers and Gazprom, which will be followed, later in the year, by a 12% (RR383/mcm) rise in regulated domestic gas prices. The net effect of these changes will be an estimated benefit of RR270/mcm for Gazprom and RR232/mcm for the independents. In 2015, independents' gas MET rate will comprise 70% of Gazprom's MET rate and the gap could be closed by the end of the decade. Russia's domestic,

What's included

This report contains

  • Document

    Gas MET race - Independents catching up with Gazprom

    PDF 333.04 KB

Table of contents

  • Executive summary
  • A decade of gas MET revenue
  • Independent producers will contribute more
  • MET rates should converge if netback is achieved

Tables and charts

This report includes 7 images and tables including:

Tables

  • MET contributions to Russia's federal budget

Images

  • Gas MET rates and domestic gas prices, 2004-2015
  • Gas production in Russia
  • Russian gas producers in 2012
  • Gazprom's split of revenues (per mcf)
  • Independents' split of revenues (per mcf)
  • Gas MET rates (RR/mcm) and domestic gas prices (US$/mcf)

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