A rough birth looms for Australian LNG

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From Fairfax:

Under the regime, announced overnight Sydney time, a tax of 3.5 per cent will be levied on LNG export projects, compared with the original proposal in February of up to 7 per cent.

The cut came after Malaysian national oil company Petronas threatened to suspend its plans for an LNG venture in Canada. It boosts the prospects for projects there, analysts say.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.