Authorities Are To Take New Loans To Settle Accounts With Gazprom

The threat of a crisis of non-payments for Russian gas increases in Belarus.

This was stated by Minister of Energy of Belarus Uladzimir Patupchyk on the final board meeting of the Ministry, the Belarusian media inform.

According to him, the indebtedness of the generating enterprises, – natural gas consumers, – is growing, that is why the regional gas companies are not able to pay in time for the JSC Gazprom Transgaz Belarus natural gas supplies.

"In order not to disrupt the payments to Gazprom Transgaz Belarus, they are compelled to raise loans to pay for supplies. Over the past year, they have taken such loans in the amount of 3 billion rubles, or $ 1.5 billion," – the minister said

According to him, there’s the most acute payments crisis in Minsk region, which accounts for about 40% of arrears for gas. At that Patupchyk clarifies that the debts of previous years have not been taken into account herein.

"If this situation continues, it can lead to the breakdown of payments to Gazprom Transgaz Belarus, to limiting the gas supply, fines and other sanctions," – Patupchyk said.

We remind that in addition to it Belarus already owes Gazprom 550 million dollars due to disagreements over the gas price. In connection with the unregulatedness of this issue, Russia cut oil supplies to Belarus in the third quarter of last year, and threatens to reduce them to a minimum.