War gains: windfall profits on liquified natural gas exports, 2022-24

by Mark Ogge, Matt Saunders and Rod Campbell

Companies exporting liquified natural gas from Australia have made windfall profits close to $100 billion since 2022, when energy prices spiked because of Russia’s invasion of Ukraine.

Most of these profits are based on royalty-free gas and no Petroleum Resource Rent Tax was paid.

At best, $20 billion in company tax was paid on this windfall.

LNG WINDFALL PROFITS

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