Australia takes brake off natural gas developments

Journal Article · Thu Dec 01 04:00:00 EST 1977 · Energy Int.; (United States)

OSTI ID:5352134

Scott, W E

The Australian government has proposed an incentive program to develop off-shore natural gas fields on the Northwest Shelf and, in addition, will extend its support to other regions like the deep-water Exmouth Plateau. Actions taken by the government include a $475 million (Australian) investment allowance, approval to export liquefied natural gas, and tax incentives to encourage development. The proposed tax incentives will feature an extension of the 20 percent investment allowance, fast write-offs for capital expenditures, tax rebates on off-shore investments, exports of up to 53 percent of reserves, and guaranteed exemption from new capital inflow restrictions. A consortium of developers has not responded yet to the proposals, but has expressed concern that, without a guarantee, a resources tax might be imposed in the future after large amounts of capital are committed. The developers also want guarantees that liquefied natural gas exports will not be required to use Australian registered and manned ships. (DCK)

• OSTI ID: 5352134
• Journal Information: Energy Int.; (United States), Journal Name: Energy Int.; (United States) Vol. 14:12; ISSN ENEIB
• Country of Publication: United States
• Language: English

Related Subjects

03 NATURAL GAS
030300 -- Natural Gas-- Drilling
Production
& Processing
031000 -- Natural Gas-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
294003* -- Energy Planning & Policy-- Natural Gas
AUSTRALASIA
AUSTRALIA
CAPITAL
COASTAL WATERS
DRILLING
ENERGY SOURCE DEVELOPMENT
ENERGY SOURCES
FINANCIAL INCENTIVES
FINANCING
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GASES
GOVERNMENT POLICIES
INDUSTRY
LIQUEFIED NATURAL GAS
MONOPOLIES
NATURAL GAS
NATURAL GAS INDUSTRY
OFFSHORE DRILLING
OFFSHORE OPERATIONS
OFFSHORE SITES
REGULATIONS
SURFACE WATERS
TAXES
TRADE