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The new MET formula aims to be a clear, predictable and dynamic tax that provides greater certainty to operators. Instead of two standard rates for gas and one standard condensate rate, all fields are now subject to individual gas and condensate MET rates. The desire for the government to tinker with the formula should be reduced as the rates automatically increase in a rising price environment. Both Gazprom and the independents will benefit from a range of discounts in the new MET formula.
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This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.
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Insight | Sep 2014
Russia’s new gas production tax – the end of government tinkering?
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