Deputies adopted the laws for development of LNG production on the Yamal peninsula and Gydan

Deputies of the Legislative Assembly of Yamal-Nenets Autonomous Okrug brought in amendments to some regional laws to develop production of liquefied natural gas on the Yamal and the Gydan peninsulas.

In particular, tax burden on enterprises, which fulfill extraction, liquefying and transportation of natural gas and condensate on the territory of the region, is being decreased. By the words of the vice-speaker of the regional parliament, the chairperson of the committee on economic policy, industry and nature management Nikolay Yashkin, tax exemptions will be given on regional and local taxes and also federal ones in a part of taxes allocated to the budget of the region. Earlier the privilege was given to organizations fulfilling extraction and liquefying of natural gas only on the Yamal peninsula. It gave a considerable breakthrough – the grandiose project "LNG 1" is being fulfilled. Now the privilege will be distributed on the Gydan peninsula, what gives "green light" for fulfillment of the project "LNG 2". Taking of the amendments will increase the number of working places, including, for representatives of indigenous ethnic minorities of the North, will lead to increase of income base of the regional budget and will provide infrastructural development of the territory, as Nikolay Yashkin notes. As the press-service of the regional parliament informs, additional allocations to the consolidated budget of the region in the result of fulfillment of the investment project "Yamal LNG 2" with consideration of the given privileges is expected earlier than the calculated term of receiving of taxable profit without giving of tax exemptions, starting with 2023 in the amount 13 milliard and 800 million rubles. In total consolidated allocations from 2023 to 2050 will make 1 226 milliard rubles, including 247 milliard rubles during the period of privilege taxation. The deputies also brought in changes to the regional law about the list of organizations, which fulfill investment projects in Yamal, having given tax exemptions in the form of decreased rates on the property tax of organizations and the income tax in the part being allocated to the regional budget by "NOVATEK – Purovskiy Plant" working on the investment project "The third stage of Purovskiy Plant", and the Arctic gas company fulfilling the project "Development of Urengoy and Yaro-Yakhinskoye oil, gas, condensate fields". The budgetary effect of fulfillment of these projects from 2014 to 2018 should make 21 milliard rubles. The social effect is in creation of 400 working places.