Gazprom shareholders approved $250 gas price for Belarus

Russian gas for Belarus is to become more expensive, decided Gazprom shareholders.

Gazprom’s annual shareholders' meeting has approved the agreement with Beltransgaz, according to which the company is to buy 22.5 billion of cubic metres of gas in 2011 which would cost $5.625 billion. Thus, gas price next year has been increased from $200 to $250 per cubic metre, AFN informs.

We remind that according to the agreement approved last year by Gazprom shareholders, in 2010 the volume of purchases from Gazprom by Beltransgaz makes 22.1 billion cubic metres at $4.42 billion.

Agreements approved by Gazprom shareholders, also stipulates that in 2011 Beltransgaz renders services for gas transit via Belarus through its gas transportation system and the Belarusian part of the Russian pipeline Yamal-Europe in the size of 48.2 billion of cubic metres.

Gazprom must pay for services of gas transportation through trunk pipelines at a maximum sum of $600 million (in 2010 it is expected that maximum $700 million would be paid). Thus, the rate for transit has been reduced from $1.24 to $1.45.