BELARUS NEWS AND ANALYSIS

DATE:

13/01/2010

Transneft: Oil Flow To Belarus Refinery Due To Stop Thursday

MOSCOW -(Dow Jones)- Russian oil flows to Belarussian refineries are coming to an end as current supply contracts expire, and new agreements remain unsigned due to a pricing dispute between Moscow and Minsk, Russian oil pipeline operator Transneft (TRNFP.RS) said Wednesday.

Deliveries to Belarus' main Mozyr refinery is due to stop Thursday unless new supply contracts are signed, while deliveries to the Novopolotsk refinery will continue for about a week, a Transneft spokesman said.

"If the situation doesn't change, supplies will run out soon," he said.

He noted transit of Russian oil through Belarus in the Druzhba pipeline to European refineries is going as normal.

Russia began curbing supplies through the Druzhba pipeline to Belarus' domestic market after a pricing deal between the two countries expired Dec. 31.

Moscow and Minsk failed to agree terms for 2010 on New Year's Eve, and fears have been raised that energy supplies to Europe could be affected as Belarus is a key transit country for Russian oil. The Druzhba pipeline system supplies about 10% of the European Union's oil needs.

Source:

http://www.easybourse.com/bourse/actualite/transneft-oil-flow-to-belarus-refinery-due-to-stop-thursday-783340


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