BELARUS NEWS AND ANALYSIS

DATE:

24/12/2007

Gas price of Gazprom for Belarus will make $119

Gas price of the Open Society "Gazprom" for Belarus, according to the contract formula of the price, in the I quarter 2008 will make $119 for one thousand cube m. It is spoken about in the report of Gazprom under the results of the meeting of the chairman of the Board of Gazprom

Alexey Miller and the first assistant of the prime minister of Belarus Vladimir Semashko.

The parties also have confirmed mutual adherence to performance of conditions of the contract between Gazprom and the Open Society "Beltransgaz" from December, 31st, 2006 on delivery and transit of gas in 2007-2011.

On December, 31st, 2006 Gazprom and Beltransgaz have signed the contract on delivery and transit of gas in 2007-2011. The document determined the price of Russian gas by deliveries in 2007 - $100 for one thousand cube m. and the formula of the price since the January, 1st, 2008, corresponding the formula of the price by deliveries of Russian gas to Europe.

The document also coordinated the tariff rate by gas deliveries by networks of Beltransgaz ($1.45) and payment for services on management of the gas main "Yamal-Europe".

On December, 31st, 2006 Gazprom and the government of Belarus have signed the report according to which Gazprom will get 50% of shares of Beltransgaz for $2.5mlrd equal payments within four years. In May, 2007 Gazprom and the State Committee on property of Belarus signed the contract of sale and purchase of Beltransgaz shares. In June Gazprom became the owner of 12.5% of Beltransgaz shares, having listed $625mln.

Gazprom is the world's largest gas company. On the results of 2006 the group "Gazprom" has extracted 556mlrd cube m. of gas, 11.4mln ton of gas condensate and 34mln ton of oil. In 2006 due to prospecting works the stocks of gas on the category ‘1 have increased up to 587.5mlrd cube m., stocks on categories €‚‘1 - up 719.9mlrd cube m., as a result, their total size for January, 1st, 2007 reached 29.85trln cube m.

The authorized capital of Gazprom makes 118.367mlrdrbl. 23673512900 ordinary shares by face value of 5 rbl are let out.

The largest shareholders of Gazprom for December, 31st, 2006 are: Rosimushchestvo (38.37315035%), the Open Society "Rosneftegas" (10.73985095%). The net profit of Gazprom on IFSA in 2006 has grown in 2 times up to 636.461mlrd rbl. from 315.931mlrd rbl. Gazprom wins the first place in the "Leading enterprise of Russia" rating on the results of 2006, presented by the rating agency AK&M in October, 2007.

Source:

http://www.akm.ru/eng/news/2007/december/24/ns2174303.htm

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