China announces tax benefit for new gas

摘要

Singapore—China is extending an existing tax exemption on imported gas to new sources of foreign pipeline gas and imported LNG. The Ministry of Finance announced on Monday that the tax exemption will be granted to pipeline imports from Myanmar, which are expected to reach a peak rate of 10 billion cubic meters/year; LNG imports from China National Offshore Oil Corp.’s newly commissioned 3.5 million mt/year Zhuhai terminal in Gaolan, southern Guangdong; as well as CNOOC’s Ningbo LNG terminal in Zhejiang, which was commissioned in September last year.