LNG

CNPC and Sinopec call for tax breaks to avoid another winter supply crunch

Top officials from Chinese companies have urged authorities to offer tax breaks to help avoid another gas crunch next winter.
By Staff reporter 8 March 2018 0 29917

Top officials from China National Petroleum Corp. (CNPC) and Sinopec have urged Chinese authorities to offer tax breaks for building gas storage sites and importing LNG to help avoid another gas crunch next winter, Reuters reported on Wednesday.

CNPC Chairman Wang Yilin said the government should refund VAT on LNG imports to reduce gas costs for consumers, while Sinopec Vice President Ma Yongsheng said the construction of underground gas storage depots, LNG tanks and other facilities should be subsidised.

China needs another 50 billion...