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Russia Okays Eurogas
The Russian government yesterday cancelled the 5-percent excise tax on imported gasoline, effective May 14 of this year. The Ministry of Economic Development and Trade found that the duty had no effect on the federal budget. Demand for high-quality 98-octane imported gas, most of which comes from Finland, may boost its market share in cities far above its current 2 percent. According to the Federal Customs Service, 3500 tons of gas were imported into Russia in the first half of last year, and 8300 tons in all of 2005.
The Finnish Neste Oil has 30 filling stations in St. Petersburg. The Norwegian Statoil also imports gasoline to Murmansk. Six of the 30 refineries in Russia, belonging to LUKOIL, YUKOS, Gazprom Neft, Surgutneftergaz and the Alliance Group, made 98-octane gas. It accounts for less than 5 percent of the gas produced in Russia.
LUKOIL head Vagit Alekperov predicted last year that the absence of high technology in Russian petroleum product refining would lead to an increase of imports. The lifting of the duty is not likely to cause a great increase in imports, however, since the high price of the high-quality imported gas will impose a natural cap on its sales.
www.kommersant.com
All the Article in Russian as of Apr. 18, 2007
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