CSG may dodge RSPT
THE fledgling coal seam gas industry is looking increasingly likely to fall under the petroleum resources rent tax.
Resources Minister Martin Ferguson told the Labor Party caucus yesterday that when it came to the tax “one size doesn't necessarily fit all”, a move aimed at appeasing the resources industry and reaching an early settlement on the dispute surrounding the resources super-profits tax.
The Australian reported that, under the changes being considered, the new greenfields industry of CSG would be treated equally with offshore oil and gas projects.
Ferguson and Prime Minister Kevin Rudd also welcomed comments by QGC managing director Catherine Tanna who said BG, QGC’s parent company, would make a final investment decision on its $A15 billion Queensland Curtis liquefied natural gas project at Gladstone later this year “if it has acceptable fiscal terms and Queensland and Australian government environmental approvals”.
Ferguson also claimed before Parliament that resource companies across his portfolio had acknowledged that the consultation process had been serious and genuine, a comment that is likely to be disputed by at least the South Australian resources industry, which last week claimed it was snubbed by the government’s senior Resource Tax Consultation Panel.
Wednesday, 16 June 2010
PetroleumNews.net
http://www.petroleumnews.net/StoryView.asp?StoryID=1136793
