NORWAY GAS
April 1st, 2002
BY KEITH NUTHALLNATURAL gas exploration companies working in the inhospitable Snøhvit field, off the far north coast of Norway, should be granted tax privileges, following acceptance of a scheme by the Surveillance Authority of the European Free Trade Area. Gas will be landed onshore via pipeline, cooled, then liquefied for ship transportation to international markets. Usually gas exploration in Norway attracts a punishing 78 per cent rate tax compared with the normal corporate rate of 28 per cent. But a bill proposed to the Norwegian parliament says capital ...
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