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GAZPROM

October 31, 2011

Documents on cooperation with Belarus to be ready for signing in November

The Gazprom headquarters hosted today a regular meeting between Alexey Miller, Chairman of the Company’s Management Committee and Sergey Rumas, Deputy Prime Minister of the Republic of Belarus.

The parties continued to coordinate the documents stipulating the terms and conditions of Russian gas supply to Belarus and gas transmission via the country starting from 2012 as well as the terms and conditions of Gazprom’s share increase in Beltransgaz from 50 per cent to 100 per cent.

The parties were unanimous saying that all the documents would be ready for signing in November.

Background

On December 31, 2006 Gazprom and Beltransgaz signed the gas supply and transit contract for 2007–2011. In particular, starting from January 1, 2008 the contract set forth the price formula (corresponding to the price formula for Russian gas supplies to Europe) and the discount rates for the price between 2008 and 2010 (0.67, 0.8 and 0.9 respectively).

In August 2011 Vladimir Putin, Prime Minister of the Russian Federation tasked the Russian Energy Ministry and Gazprom to determine the discount rate for the gas price in Belarus from 2012.

Gazprom holds a 50 per cent stake in Beltransgaz.

 

 

 

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