BELARUS NEWS AND ANALYSIS

DATE:

18/05/2007

Creation of Gazprom-Beltransgaz Venture Shelved Again

Russia's Gazprom and Belarus' Beltransgaz won't ink the documents on joint venture's creation on May 18, Prime-TASS reported with reference to Gazprom.

"The purchase and sale contract for Beltransgaz stocks will be sealed not on May 18 but later," representatives of Gazprom said. "You know, we have a good tradition with Belarus' colleagues - agreeing on the final details the 31st:" "We hope that, in dates specified earlier - till June 1 - all necessary documents will be inked," said Gazprom spokesman Sergey Kuprianov.

In the news service of Belarus' government, they said the delay could be attributed to the need to additionally agree on one of the items of the contract for selling Beltransgaz stocks to Gazprom.

A delegation of Gazprom is due to arrive in Minsk today, on May 18, 2007. It is led by Valery Golubev, deputy chairman of Gazprom's management committee.

The venture's creation is spelled out in the framework protocol that Russia and Belarus sealed December 31, 2006. According to the document, Gazprom is to transfer $625 million to Belarus till May 20 for 12.5 percent in Beltransgaz. The payment will be made by installments, so that Gazprom could generate 50 percent in Beltransgaz by June 1, 2010 should it pay $2.5 billion to Belarus by this date.

Source:

http://www.kommersant.com/p-10738/venture_Gazprom_Beltransgaz/