Shtokman gets discount tax rate
Shtokman Development will get a discounted rate of the corporate profit tax at 13.5 percent compared to the current level of 20 percent.
In a teleconference this week Murmansk oblast Governor Dmitry Dmitriyenko and Shtokman Development AG (SDAG) CEO Alexey Zagorovsky discussed further cooperation steps, Regnum reports.
The parties underlined the importance of state support of investment activities and modification of regional income tax and property tax laws. In compliance with adopted amendments, strategic projects implemented in the region may be exempt from property tax, with regional income tax rate being 13.5 percent.
The Murmansk regional government has decided to transfer land lots in the future Shtokman hub of Teriberka from reserve into industrial and other special purpose categories. This will make SDAG enable to accelerate registration of land lots to be allocated for construction of phase 1facilities and required infrastructure.
In June, Dmitriyenko said that Teriberka will get status as free economic zone, as BarentsObserver reported.
The Shtokman field is located about 600 km north of Murmansk and includes a number of unprecedented technological challenges. The field contains as much as 3,9 trillion cubic meters of gas. It will be developed by the Shtokman Development AG, a joint venture of Gazprom (51%), Total (25%) and Statoil (24%).
A final investment decision on the Shtokman project is waited by the end of the year.
