BW Gas remains in Norway

Leading LPG carrier owner/operator Bergesen Worldwide Gas (BW Gas) will have to remain in Norway, unless the owner, Helmut Sohmen (59.7 per cent), is willing to settle deferred taxes of USD 776.0 million. A system of deferred taxes is part of the current Norwegian tax regime supporting Norwegian shipping. According the BW Gas annual report, the company has no plans to leave Norway. Last year the BW Gas deferred tax, or tax credits as the Norwegian authorities like to call it, increased by USD 112 million. BW Gas managing director, Jan Håkon Pettersen, says that the deferred tax is not the main reason why the company remains in Norway, but rather the unique Norwegian expertise in gas tanker operation. BW Gas has 96 gas carriers, of which 81 for LPG and 15 for LNG.