11 May 2022 16:03

Russia, Belarus transitioning to payment for gas in rubles, determine terms of price formation through end of 2022

MOSCOW. May 11 (Interfax) - Russian Energy Minister Nikolai Shulginov and Belarusian Energy Minister Viktor Karankevich have signed protocols on amendments to the intergovernmental agreement on natural gas supplies to Belarus, the Russian Ministry of Energy said in a statement.

"The documents provide for the transition to payment for gas in Russian rubles and define the conditions for the formation of gas prices from April through the end of 2022," the statement said.

For its part, the Belarusian Ministry of Energy said that the signed conditions apply to gas supplies from Russia and the markup of Gazprom's subsidiary Gazprom Transgaz Belarus when selling to wholesale customers through the end of 2022.

"The heads of the energy ministries of Belarus and Russia signed a protocol on amendments to the intergovernmental agreement on pricing (rates) for natural gas supplies to Belarus and its transportation by pipelines located on its territory, dated November 25, 2011, as well as the protocol on amendments to the intergovernmental agreement on the terms of sale and purchase of shares and further activities of Beltransgaz (now - JSC Gazprom Transgaz Belarus) dated November 25, 2011," the ministry said in a statement.

Ambassador Extraordinary and Plenipotentiary of Belarus to Russia Vladimir Semashko was present at the signing.

"We note the consistent development and high potential of bilateral cooperation between our states in all areas of the energy sector. Of course, the gas industry remains the flagship of our cooperation. The Russian side continues to fulfill in full its commitments on energy supplies, and the relevant programs for the formation of joint markets are being implemented," Shulginov said after the signing.