All companies that have affiliated to the Participant Agreement have an obligation to pay NOx tax to the NOx Fund. NOx emissions subject to NOx tax shall be reported to the NOx Fund each quarter by the 18th in the following month via the Fund's web portal.
CO2 tax on LNG used in shipping, introduced in Norway from 1 January 2018, makes LNG more expensive. There is no longer an operational economic benefit to use LNG instead of marine diesel on ships.
Companies that join the NOx Agreement are entitled to a tax exemption from the tax of 22.69 NOK per kg NOx to the state from the date that the enterprise affiliate to the NOx Agreement.
The EFTA Surveillance Authority (ESA) has approved a prolongation of the NOx tax exemption scheme in Norway.
Emissions related to oil and gas extraction shall be reported under high payment rates. From 1.1. 2018, all emissions from removable offshore rigs shall be reported at a high rate, including transfer and relocation between operation and exploration drilling (emissions previously reported at low rates).
The NOx Fund can grant support to NOx-reducing measures following applications.
The energy optimisation projects initiated by Statoil and Songa Offshore is a noteworthy achievement, making more efficient and environmentally friendly drilling operations through technical enhancements of its operating drilling units.
Forms have been made that companies that have been granted support to NOx-reducing measures have to fill out to report the effect of the measure.
The NOx Fund launches a support program for rigs. The main purpose with the program is to provide support conditions that make it easier for the rigs to receive funding from the NOx Fund.