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1 Jan, 2007 19:17

Gazprom satisfied with the deal

Gazprom satisfied with the deal

Gazprom is satisfied with the gas deal finally signed with Belarus in the last minutes of 2006. Gazprom's spokesman Sergei Kupriyanov says the company was “actively urging its Belorussian counterparts to finish negotiations in the outgoing year&rdqu

Belarus agreed to pay $ US 100 per thousand cubic meters of gas in cash which is slightly below $ US 105 sought by Gazprom.

In return Belarus doubled the transit costs and service fees for Russian gas supplies to Europe via its territory.

Gazprom will also purchase a 50 percent stake in the Belarusian pipeline network Beltransgaz.

The deal is valued at $ US 2,5 BLN , which will be paid over the next 4 years in equal installments.

By that time, the price of gas in Belarus is expected to reach the European market levels.