The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Vladimir Semashko, First Deputy Prime Minister of the Republic of Belarus.

The parties discussed the issues surrounding the Beltransgaz integration into Gazprom Group and the further development prospects of the company. It was noted that the Beltransgaz corporate requirements, norms and standards alignment with the ones adopted in Gazprom would enhance the Belarusian company effectiveness.

The parties also reviewed the prospects for production, sales, financial and economic activities of Beltransgaz.

Alexey Miller informed Vladimir Semashko that it was resolved to rename the company Gazprom transgaz Belarus.

Background

On November 25, 2011 the Russian Federation Government and the Government of the Republic of Belarus signed:

the Agreement on the prices (tariffs) formation procedure for natural gas supply to the Republic of Belarus and transmission via gas pipelines located in this country;

the Agreement on the terms and conditions for shares purchase and sale and further activities of Beltransgaz.

On November 25, 2011, in furtherance of the above mentioned documents, Gazprom and Beltransgaz signed the contracts for gas supply to and transit across Belarus from 2012 through 2014. In addition, Gazprom and the State Property Committee of the Republic of Belarus entered into the purchase and sale agreement for a 50 per cent stake in Beltransgaz. Taking into consideration Gazprom's 50 per cent stake in Beltransgaz acquired in 2007–2010, Gazprom became the owner of a 100 per cent stake in Beltransgaz.