BELARUS NEWS AND ANALYSIS

DATE:

03/08/2007

EU satisfied Russian-Belarus gas supply dispute over, cancels emergency talks

BRUSSELS (Thomson Financial) - The European Commission said it is satisfied that the gas supply dispute between Russia and Belarus has been resolved, so it is calling off next week's emergency meeting of the EU's gas coordination group.

'We welcome the developments of the last hours that have led to an amicable settlement of the dispute,' commission spokesman Martin Selmayr said.

'Under these circumstances, the commission no longer sees the need to call an urgent meeting of the gas coordination group next week,' Selmayr said.

The group will discuss the issues raised by the dispute at its next regular meeting, later in the year, he said.

Earlier, OAO Gazprom said it has completed negotiations with OAO Beltransgaz over the Belarussian company's 456.2 mln usd debt for natural gas supplies received this year.

Gazprom had threatened to cut pipeline shipments to the former Soviet republic by 45 pct from today if the debt was not repaid.

The incident was the latest stand-off between Russia and one of its neighbours to raise fears of supply cuts among western European consumers, who receive 20 pct of their Russian gas via Belarus.

Source:

http://www.abcmoney.co.uk/news/032007113726.htm