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  Thursday, September 24, 2020
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Russia's gas companies should be taxed more heavily as the price of gas rises
Russia's gas companies should be taxed more heavily as the price of gas rises, Finance Minister Alexei Kudrin said Wednesday. "On the orders of the government, [the Finance Ministry] is ready to draft an additional resolution on taxes of the gas industry given growth in gas prices," Kudrin told a government session. Kudrin also said energy giant Gazprom could bring in unplanned revenues of up to 400 billion rubles (about $15 billion) in 2006. Economic Development and Trade Minister German Gref said Gazprom's unplanned revenues in 2005 stood at 215-220 billion rubles ($8-8.2 billion) due to high global prices for natural gas. Gref said Gazprom should use its unplanned revenues to develop activities including gas production, or "share these profits with the state and use them for other needs." Prime Minister Mikhail Fradkov said he agreed that "revenues should be managed effectively."
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