BELARUS NEWS AND ANALYSIS

DATE:

24/07/2007

Belarus to defer payments for gas received in H1

MINSK. July 24 (Interfax) - Belarus has not yet paid off its debt to Russian gas concern Gazprom (RTS: GAZP) for gas supplied in the first half of 2007, Andrei Zhukov, aide to the Belarussian energy minister, told Interfax.

"At the start of the day today the debt had not yet been paid, and negotiations are continuing, in which Belarussian Energy Minister Alexander Ozerets and Beltransgaz acting General Director Mikhail Kazakov are participating from the Belarussian side," Zhukov said. He said that the debt, including interest, amounts to about $500 million. During the negotiations the Belarussian side proposed "to defer the payment of this debt, and agreed that penalties be charged on the amount due."

"There are also other proposals," Zhukov said.

He did not rule out that talks would continue on Wednesday, July 25, despite the fact that Ozerets's trip to Moscow ends on July 24. In addition, Beltransgaz is to hold an extraordinary shareholders' meeting on July 25, in which Ozerets is expected to take part.

Source:

http://www.interfax.com/3/295837/news.aspx