Insight
Proposed windfall tax change: a blow to Romanian gas production
Report summary
The Romanian Parliament will soon make a final decision on the controversial change to gas windfall tax. If enacted, this will be the largest tax change in Romania in more than 20 years. The tax change will immediately affect Romanian gas producers. Future economics of pre-FID Black Sea projects could suffer as well. Tax terms will become more regressive, and tax stability will be undermined. Investment and gas production in Romania can decline as a result. This will make the country more dependent on gas imports.
Table of contents
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Executive Summary
- Background
- How does gas windfall tax work?
- Negative impact on upstream projects
- Energy security will be compromised
- Romanian tax terms will become less attractive
- Conclusion
Tables and charts
This report includes 8 images and tables including:
- Timeline of gas windfall tax changes
- Current gas windfall tax calculation
- Proposed gas windfall tax calculation
- Changes in remaining value of assets
- Romanian gas prices vs gas windfall tax rates
- Fiscal disruption
- Selected onshore terms for gas
- Selected offshore terms for gas
What's included
This report contains:
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