Gazprom Ready to Buy Beltransgaz Shares on Unconditional Basis

01.07.2011 10:33

Gazprom, the Russian gas holding company, is ready to buy the remaining 50% of Beltransgaz belonging to Belarus for $2.5 billion "already tomorrow," unless Minsk lays down further conditions. This was stated by Gazprom head Alexey Miller on June 30.

«Purchase terms and conditions are the same as for the first half of shares — $2.5 billion. We are ready to pay this money. The contract is currently at a very high degree of readiness at the corporate level, at 98% I think,» said Alexey Miller.

According to Gazprom head, the Belarusian side is trying to link Beltransgaz sale contract to gas supplies to Belarus from January 1, 2012, while the Russian side considers it to be unacceptable, according to RIA «Novosti.»

«We’re going to conduct substantive negotiations with our Belarusian colleagues on terms of gas deliveries under the new contract in the third and fourth quarterof the year, but Beltransgaz purchase has nothing to do with terms of Russian gas supplies to Belarus, and, of course, only one issue can be on the table, which is our principled position,» said Alexey Miller.

Gazprom head also reported that an agreement on the gas price formula for Belarus in 2012 had not been achieved.

«There is a contract valid until December 31, 2011. There’ve been reports that Belarus had agreed on the price formula, which is far from reality. There is no agreement on any pricing formula,» said Alexey Miller.

Meanwhile, according to Telegraf, First Deputy Prime Minister of Belarus Vladimir Semashko said on June 30 that Belarus had agreed with the Russian Gazprom on the formula for the gas price calculation for Belarus from 2012. The parties were reported to have agreed on a «good and profitable price both for Belarus and Gazprom.