Are the Australian people getting their fair share of the value of their LNG exports? From Down Under comes this latest fizzle, an argument that could pit the resource owner, whose coffers could well be empty relative to the next biggest national exporter, against the resource producers, who have run up huge costs to get into the LNG game by following the rules set by the owner.
Who’s right? Let’s let some high-price Canberra lawyers make the case, but as a public service to the Canadian and African projects, here’s my views on the matter.
This week's post is from my colleague and friend John Bland, on the topic of taxes and royalties in Queensland's emerging LNG export industry. Oil prices have been on a tumble for several months now. Since contracted LNG is often priced with reference to oil (unlike LNG available on the spot market, which is based on what buyer and seller agree), it means LNG prices are also falling. But what about the taxes that Australian governments collect from the gas sector? Will those taxes be less than planned?
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