Changes to tax burden on Gazprom linked to tariff decisions expected from 2026 - Russian Finance Ministry

MOSCOW. Sept 15 (Interfax) - Changes to the tax burden on Gazprom are linked to the effective dates of changes to regulated gas prices in Russia, which are only expected from next year, Russian Deputy Finance Minister Alexei Sazanov told journalists regarding the options discussed for reducing the tax burden on Gazprom.

According to Interfax sources, on August 1, the relevant ministries were to consider the possibility of reducing the mineral extraction tax (MET) on gas for Gazprom by an amount that could be obtained by withdrawing tariff windfall profits from independent producers through the same MET, by order of the Russian president. This pertained to the additional income of independent producers resulting from the indexation of regulated gas prices to a level exceeding inflation.

As Sazanov said on Monday, this issue will be resolved "depending on tariff decisions." "I understand that tariff decisions will only come into effect next year; accordingly, changes to the tax burden, including on Gazprom, will occur starting next year. We are currently discussing such amendments with colleagues from Gazprom and independent companies," he said.

"The change in the MET is linked to the effective date of the tariff decisions," Sazanov said.