BELARUS NEWS AND ANALYSIS

DATE:

25/04/2007

Gazprom to buy Beltransgaz shares for USD 2-1/2 bln

MOSCOW, April 25 (Itar-Tass) -- Gazprom's Board of Directors on Wednesday authorised the acquisition of 50 percent of Beltransgaz, owned by the Belarusian government, for 2.5 billion U.S. dollars.

The company will pay for the shares in four instalments in 2007-2010. In each case Gazprom will buy 12.5 percent of Beltransgaz shares, the Prime-Tass news agency reported.

On December 31, 2006, Gazprom and the Belarusian government signed a protocol on the creation of a joint gas transportation company as well as on supply and transit of natural gas through Belarus.

In accordance with the protocol, Gazprom and Belarus' State Property Committee have to sign a purchase/sale agreement before June 1, 2007.

Source:

http://www.itar-tass.com/eng/level2.html?NewsID=11471057&PageNum=0