Today, the Gazprom Headquarters has hosted a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Alexander Ozerets, Energy Minister of the Republic of Belarus.

The parties discussed cooperation issues in the gas sector. Particularly, the meeting examined the progress with preparing a Sale and Purchase Agreement to acquire a 50 per cent stake in Beltransgaz.

Reference:

On December 31, 2006, Gazprom and the Republic of Belarus signed the Protocol stipulating Gazprom’s acquisition of a 50 per cent stake in Beltransgaz. Under the Protocol terms, Gazprom will pay US$ 2.5 bln in equal payments for a 50 per cent stake in Beltransgaz over the next four years.

On December 31, 2006, Gazprom and Beltransgaz signed the Gas Supply and Transit Contract for 2007-2011. The parties identified the price of Russian gas for 2007 (US$ 100 per 1,000 cu m), the pricing formula starting from January 1, 2008 (which is in line with the Russian gas supply pricing formula for Europe).