BELARUS NEWS AND ANALYSIS

DATE:

07/10/2008

Russia to Honor Contract with Belarus

Russia will supply gas to Belarus, as provided by the price formula in the contract between the two nations, according a source in the Russian delegation.

The formula was agreed upon in December 2006 and forecasted incremental increases. For example, the 2008 cost to Belarus will be approximately 67% of the market price, 80% in 2009 and in 2010, the figure will increase again to 90%. Minsk proposes to revisit these terms.

The delegation, headed by Prime Minister Vladimir Putin, visited Belarus on Monday. The issue of the Russian gas supply to Belarus was one of the main issues discussed during this visit.

"The current contract exists with a fixed price formula, and the Russian side will supply the volumes as agreed," reported the delegation source. According to RIA Novosti's source, discussion of this issue will continue.

Source:

http://www.oilandgaseurasia.com/ru/news/p/0/news/2897

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