Russia wants remaining 50% stake in Beltransgaz

A source in the Russian government explained in simple terms what Lukashenka meant by saying about issuing a loan worth $6 billion.

As it turned out, Russia considers a possibility of acquiring the controlling stake in Beltransgaz if the country renders financial aid to Belarus, Interfax-Zapad reports.

Commenting on Alyaksandr Lukashenka’s statement that Russia will give Minsk a loan of $6 billion, the source underlined: “What is meant here is a possibility of giving a credit worth up to $1 billion from the Anti-Crisis Fund (EurAsEC) and purchasing the controlling stake in Beltransgaz by Gazprom.”

Alexei Kudrin, Russian deputy prime minister and minister of finance, said earlier that Russia did not have plans to give Belarus a loan from the country’s budget. “We consider only a loan from EurAsEC,” Kudrin said.

He also said that Belarus could get a credit worth $1 billion from the EurAsEC Anti-Crisis Fund in 2011, and the same credits in 2012 and 2013.

Belarus announced a possible selling a 50% stake, own by the state, in Beltransgaz in early April.

Gazprom obtained a 50% share in Beltransgaz for $2.5 billion in 2007-2010. The contract was signed basing on ABN Amro’s independent valuation of Beltransgaz assets estimated at $5 billion in late 2006.