GAFA tax: Companies have received their tax notice

"Companies subject to this tax have received a tax notice for the payment of the 2020 installments," said Bruno Lemaire. Not to mention the possible wrath of the American authorities, the GAFA have already taken the lead. Here's how.   The negotiations on the digital tax at the OECD have come to naught. “We had suspended the collection of the tax until the OECD negotiations were concluded. This negotiation failed, so we will collect a tax on the digital giants next December, "explained Bruno Le Maire, the French Minister of the Economy, in mid-October. "Companies subject to this tax have received a tax notice for the payment of the 2020 installments," the Ministry of the Economy said today. Facebook and Amazon "are among the companies" which have been notified "in recent days", assures for its part the Financial Times. So after firing the first ones, what should the French authorities expect from now on? Has

Despite declining demand for LNG, most African producers still export as much as usual

With low global demand for LNG and too low prices, some African producers still produce as much, if not more, fuel for export. A paradoxical approach when we know that Egypt on the contrary chose to stop its shipments, because it is not profitable. According to data compiled by Global Platts, total LNG exports from Nigeria, Angola, Equatorial Guinea and Cameroon are broadly in line with volumes supplied during the same period last year, despite the drop in global demand. At the same time, a large exporter like Egypt stopped shipping to the international market, discouraged by the low fuel prices. These rose to $ 1.825 / MMBtu on the Asian market, while the break-even point for LNG in Egypt is $ 4.70 / MMBtu.
 
Despite declining demand for LNG, most African producers still export as much as usual

Meanwhile, Nigeria’s LNG exports in 2020 remained strong with some 11 billion cubic meters exported in the first five months of the year. This represents a decrease of only 4% compared to the same period last year. A record volume of LNG was even reported at sea last month and reflects the difficulties in finding a buyer for these cargoes. Local production is saturated in terms of storage capacity and the government plans to market the fuel internally.

Angola’s shipments have so far increased with a total of 2.7 billion m3 of gas equivalent exported in the first five months of the year. This represents an increase of almost 4% over the previous year.

In Equatorial Guinea, the EG LNG production facility exports as much LNG as it did last year. This depends on the Alba field of Marathon Oil, which however has declining production. However, the authorities are counting on the Alen field being exploited before the end of 2020 to support the production and export of LNG.

Cameroon exported more LNG than at the same time last year.




With the reduction in oil prices, all means are good to more or less replenish the public coffers. Exports under these conditions bring in little money, but these countries desperately need it and have to make do with it because of the context. In addition, it could also be a way to conquer new market shares.