Support The Moscow Times!

Shtokman Tax Break Expected Soon

PARIS — Deputy Energy Minister Anatoly Yanovsky expects the government to announce tax breaks that would facilitate development of the giant Shtokman gas field by Gazprom, France's Total and Norway's Statoil in the next month and a half.

"I'm sure we will be able to find optimal conditions to implement the project … that on the one hand will bring revenue to the Russian state and on the other hand will enable the investor companies to have the return on the investment," he told reporters on the sidelines of a conference in Paris.

When asked about the timing of the government's decision on the tax changes, he responded: "A month, month and a half," he said, speaking through an interpreter.

Last week, Statoil chief executive Helge Lund said the consortium planning to develop the field, one of the largest gas finds in the world, needed a decision soon to avoid the project falling further behind schedule. Previous deadlines have already been missed.

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more