Russian Gas Supplies to Belarus in First Half of 2008 Fully Paid for - Gazprom

Text of report in English by Russian state news agency ITAR-TASS

Moscow, 5 August: Belarus has fully repaid Russian natural gas deliveries of the first half of this year, Gazprom said in comments on a Tuesday [5 August] meeting between Gazprom Deputy CEO Valeriy Golubev, Belarusian Deputy Energy Minister Ryma Filimonava and Beltranshaz director-general Uladzimir Mayoraw.

"The sides summed up results of gas cooperation in the first half of this year and discussed prospects for the rest of 2008," the company said. "The sides expressed mutual satisfaction with the fulfilment of the long-term gas delivery and transit contract."

"All problems related to the deliveries and transit of Russian gas in 2008 were settled with the July signing of a supplement to the contract. Belarus has fully paid for gas, and Russia has fully covered transit expenditures," Gazprom said.

"The sides have also fully settled financial and economic aspects of this year's activity of the Beltranshaz joint venture," the company said.

Gazprom and Beltranshaz signed a contract on gas deliveries and transit for 2007-2011 on December 31, 2006. The contract set the gas price at $100 per 1,000 cubic meters for 2007 and approved a gas price formula for the period starting from January 1, 2008. Belarus, the same as Russian industrial consumers, will have to pay the European gas price minus transportation charges starting from 2011.

Contract supplements link the Russian gas transit charge to the Belarusian retail gas margin.

Originally published by ITAR-TASS news agency, Moscow, in English 1409 5 Aug 08.



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