Belarus Plans to Buy Russian Gas at Lower Prices

30.06.2011 14:54

Belarus agreed with the Russian company Gazprom on the formula to calculate gas prices for Belarus from 2012. As told by Deputy Prime Minister of Belarus Vladimir Semashko, the parties agreed on "a good and profitable price both for Belarus and Gazprom."

Meanwhile, the Belarusian side hopes to reach equal profitable price under the Customs Union in 2012 with its significant reduction afterwards, BelTA

«Reaching the principle of equal profitability suggests, at least, equal pricing and, therefore, a significant drop in gas prices from January 1, 2012 after enactment of a new contract. But we aim at the lowest reduction possible,» said Vladimir Semashko.

According to the agreement, signed by Belarus, Russia and Kazakhstan in December 2010, the parties shall simultaneously have entered equal pricing and the principle of equal profitability by January 1, 2015.

Russian Gas Price Could Go up to $305 by Year’s End, Semashko

The current gas price ($244.7 per thousand cubic meters), according to Vladimir Semashko, is higher of the equal profitable price, which is calculated by the Russian side by a certain formula. Moreover, if nothing changes, the price will go up to $286 per thousand cubic meters in the third quarter of this year, while in the fourth — to $300-305.

Vladimir Semashko underscored once again that agreement on gas pricing for Belarus is one of the terms of the Beltransgaz shares’ sale to Russian investors.

The Vice Premier reported a package of documents, including Beltransgaz purchase and sale contract, an agreement on the gas pricing for Belarus, the gas supply contract for 2012-2014 as well as gas transit contract for 2012 — 2014, had already been prepared.