Natural gas revenues boost government coffers in 2008

01/12/2009 15:00

With 14.8 billion euro, government revenues from natural gas reached a new record last year. Natural gas revenues grew by 5 billion euro relative to 2007.

Natural gas revenues created surplus in 2008

Natural gas revenues grew by more than 5 billion euro in 2008. Partly on account of the current recession, tax proceeds did not increase as rapidly as in previous years. Natural gas resources helped create a government surplus in 2008 of 2.7 billion euro.

Natural gas revenues increasingly important

Government revenues increased by more than 75 percent over the past decade, whereas natural gas revenues quadrupled. Hence, gas revenues are becoming increasingly important as a government source of income. The volume of natural gas extracted annually is growing, but a more important factor is the high oil price, which is linked to the gas price. In 2008, natural gas revenues constituted 9.2 percent of total government revenues.

Natural gas revenues

Natural gas revenues

Arjan Neef

Engels:
Higher profits from oil and gas extraction help to fill government coffers