EEC sets import duty to zero on certain types of equipment for LNG output for two years

MOSCOW. April 22 (Interfax) - The council of the Eurasian Economic Commission (EEC) has approved a tariff benefit in order to exempt from import customs duties specific types of equipment to produce and sell small-scale liquefied natural gas, the EEC trade bloc said.

The EEC said that the tariff benefit would be valid for two years, under the conditions of confirming the intended purpose of the imported goods, namely to construct, equip and maintain LNG production facilities.

"The goal of the decision is to expand the network of small-scale LNG production, accelerate the pace of regional gasification, and replace petroleum products used as motor fuel with more environmentally friendly natural gas," EEC Trade Minister Andrei Slepnev was quoted as saying.

Slepnev said that the Eurasian Economic Union (EAEU) is working to increase the investment attractiveness of projects by using small-scale LNG, and to develop the market for gas motor fuel, including for agricultural and road construction equipment, and on roadway, railway, and waterway, thereby ensuring that the gas-filling network is loaded effectively to commercial capacity level.

"The main prerequisites are the presence of a large number of gas fields within walking distance that are not of interest for industrial production, as well as the location of a number of potential consumers in hard-to-reach areas or at a distance from gas supply sources. The use of small-scale LNG is the optimal solution in these cases, as it would contribute to the socio-economic development of the regions, ensure energy security, and improve the environmental situation," Slepnev was quoted as saying in the trade bloc's statement.

The duty-free process is also proposed for applying to rotor magnetic suspension systems of a turbo-expanding assembly, magnetic bearings, quick-release couplings for LNG, refrigeration machines, fittings for cryogenic environment, gas piston engines, as well as a number of other goods that are not produced in the EAEU.