Report: India’s ministries urging tax-free LNG imports

Report: India's ministries urging tax-free LNG imports

India’s ministries of energy and environment are pushing for the government to remove the LNG import tax imposed on the imports of the chilled fuel that is not used in the power sector. 

Liquefied natural gas imports account for 44 percent of India’s total gas use, and so far, only LNG imported for the power sector has been duty free.

In addition, the ministries have urged Narendra Modi, India’s prime minister, to impose a tax on the use of pet coke and furnace oil in order to boost the use of natural gas, Reuters reports.

India’s energy consumption with targeted 8 to 9 percent economic growth. However, the government plans to cut the country’s carbon footprint through the increase of the share of natural gas in the energy mix. It is planned to bring the natural gas share up to 15 percent from the current 6.5 percent.

Citing a presentation, Reuters further reports that, officials from ministries of power, coal, mines, oil and gas, renewables and environment met with the prime minister Modi, offering suggestions and making demands, before the government sets the budget for 2017 on February 1.

In addition to tax-free LNG imports, the ministry officials are calling for continuation of incentives and benefits for the renewable energy sector and further promotion of the use of biofuels.

 

LNG World News Staff

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