The Impact of Russia’s Tinkering with Upstream Gas Taxes on State Revenues

Published 11/07/2017 by Vitaliy Yermakov & Daria Kirova (OIES)

Gazprom, as the largest producer, has prioritised production from new more expensive fields with a lower tax burden rather than exploit some of its lower cost existing assets, with the result that government revenues have not been maximised and Russia’s competitive position in global market has not been optimised.

This paper explores the implications of this outcome and discusses potential changes in policy which could alleviate the problems.



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