Gazprom raises its share in Belarus gas transport company to 50%

Russian gas monopoly Gazprom paid $625 mln on Wednesday to acquire an additional 12.5% stake in Beltransgaz, bringing its total share in the Belarusian gas transport company to 50%.

Gazprom signed an agreement on the purchase of a 50%-stake in Beltransgaz with the Belarusian State Property Committee in May 2007. In line with the agreement, the Russian energy giant acquired four 12.5% stakes in the Belarusian company in 2007-2010.

In 2007, Gazprom bought half of Beltransgaz's shares for $2.5 billion. According to Dutch lending company ABN Amro, the total cost of Beltransgaz's assets is estimated at $5 billion.

Beltransgaz is Belarus's state gas transportation monopoly with a 7,000-km (4,350-mile) pipeline network. It also operates a part of Gazprom's Yamal-Europe gas pipeline passing through the Belarusian territory.

MOSCOW, February 24 (RIA Novosti)


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