Stake acquisition in Beltransgaz by Gazprom should not be associated with new gas supply contract development


St. Petersburg International Economic Forum 2011

Alexey Miller, Chairman of the Gazprom Management Committee and Vladimir Semashko, First Deputy Prime Minister of the Republic of Belarus held a meeting today as part of the St. Petersburg International Economic Forum 2011.

The parties discussed conclusion of a contract for gas supply to the Republic starting from 2012 on the basis of the Common Economic Space.

Alexey Miller and Vladimir Semashko considered the prospects for Gazprom to acquire shares of Beltransgaz. The parties noted that the appropriate documents showed a high degree of readiness. In the course of the meeting the participants stressed that the prospects for their signing should not be associated with the activity on determining the new contact terms.


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).

Gazprom currently holds a 50 per cent stake in Beltransgaz.

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