BUSINESS

Poland proposes tax breaks for shale gas industry

Poland offered six-year tax breaks to the shale gas industry on Tuesday to speed up exploration work and reduce the country’s reliance on Russian gas amid rising tensions in Ukraine, wsj.com informs. Over the past few years Poland has been building pipelines connecting it with European Union neighbors to the west and south, as well as a liquefied natural gas port on the Baltic coast allowing it to bring in imports from Qatar. It has also awarded shale-gas exploration licenses and urged domestic state-controlled companies to drill. Concern over the tax system and future regulation has prompted some international majors to leave.

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