Romania’s Senate approved legislation granting a series of tax incentives for companies in the domestic chemical industry using natural gas as feedstock, as authorities seek to encourage higher-value industrial processing of the country’s gas resources. The bill, which now heads to the Chamber of Deputies for a final vote, is backed by both governing and opposition parties. According to the draft law, companies operating in Romania’s natural gas-based chemical industry will benefit from a five-year exemption from profit tax starting from the first investment, Profit.ro reported.