BELARUS NEWS AND ANALYSIS

DATE:

21/05/2007

Belarus Signs Contract On Gazprom's Purchase Of Beltranshaz Stake

The Belarusian government and Russia's gas monopoly Gazprom signed a contract in Minsk on May 18 ensuring Gazprom's future purchase of a 50-percent stake in Beltranshaz, Belarus's gas-pipeline network, Belapan reported. Under a framework agreement signed in Moscow on December 31, 2006, Gazprom was to acquire a 50 percent stake worth $2.5 billion in Beltranshaz by June 1, 2010, to form a joint gas-transport company. Gazprom will buy its stake in four 12.5 percent installments between 2007 and 2010. Belarusian Deputy Prime Minister Uladzimir Syamashka told journalists on May 19 that the $625 million that Belarus will receive from Gazprom for the first installment will "work for the development of economy" and will not be spent on paying off the country's gas debt. Belarus reportedly owed Gazprom $365.3 million at the beginning of April. JM

Source:

http://www.rferl.org/newsline/2007/05/3-CEE/cee-210507.asp