China logged a record LNG imports total last month of 1.18 million tonnes. The question now is whether this week’s government offer of tax breaks to domestic gas suppliers will boost the market further.
The Ministry of Finance has ordered value added tax rebates to any gas projects, both pipeline and LNG, approved by the National Development & Reform Commission.
The VAT paybacks will run from this year through to 2020, and will apply if the project’s average gas import price is higher than domestic sales prices over the same period.
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