BELARUS NEWS AND ANALYSIS

DATE:

02/01/2007

Gazprom will become Beltransgaz co-owner by mid 2010 - Semashko

MINSK. Jan 2 (Interfax) - Russia's gas monopoly Gazprom (RTS: GAZP) will have acquired its 50% stake in the future joint venture with the Beltransgaz state gas transport company by June 1 2010, Belarus' First Deputy Prime Minister Vladimir Semashko said at a news conference in Minsk on Tuesday.

"The joint venture is to be set up by June 1 2007. Gazprom will pay for the 50% stake under installment arrangements during the next four years - $625 million a year. By June 1 2007 its stake will be 12.5%, and it will finally increase to 50% by June 1 2010," Semashko said.

Belarus and Russia have agreed on Beltransgaz valuation at $5 billion, he said.

"All of the basic documents are in a high degree of readiness in Belarus. The draft agreement, draft charter of the joint venture and draft sales contract have been negotiated with all ministries and agencies," Semashko said.

Source:

http://www.interfax.ru/e/B/politics/28.html?menu=1&id_issue=11656459