23 February 2019, Saturday, 10:58
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Belarus Rises Russian Oil Transit Tariffs

PHOTO: REUTERS

Belarus will rise tariffs from February 1.

Starting from February 1, Belarus will raise tariffs for oil transportation (transit) services through oil trunk pipelines located in the country. This follows from the Decision № 3 of the Ministry of Antimonopoly Regulation and Trade of January 15.

Tariffs are set in accordance with the existing bilateral agreements between Belarus and Russia, signed in 2010 as part of a single package of documents regulating work in the markets of oil and oil products. Tariff revision is done on a regular basis and is carried out annually, MART reminded.

The authorities of Belarus and Russia agreed that if they do not agree on the size of tariffs, the Belarusian authorized body will define the size of oil transportation tariffs. It will do it by increasing the current tariff rates by the average annual consumer price index for the current year, established by the forecast of the socio-economic development of the Russian Federation, increased by no more than 3 percentage points.

Thus, for 2019, the tariffs for oil transportation services through the Belarusian main pipelines have been indexed by 7.6% (according to the official forecast, inflation in the Russian Federation may amount to 4.6% in 2019, plus 3 p.p).

“Considering the fact that tariffs are set in Russian rubles and taking into account the exchange rate fluctuations that occurred in previous years, these tariffs (per 100 tkm) for oil transportation services through main pipelines in Belarus are one of the lowest among similar tariffs in neighboring countries of the region,” – the MART press release states.

In 2018, the tariffs for oil transportation services provided by JSC Gomeltransneft Druzhba and JSC Polotsktransneft Druzhba have been indexed by 7.6%.