The Gazprom headquarters hosted today another meeting between Alexey Miller, Chairman of the Company's Management Committee and Vladimir Semashko, First Deputy Prime Minister of the Republic of Belarus.

The parties resumed the negotiations on terms of Russian gas supply and transportation via Belarus with a link to the purchase of a 50 per cent stake in Beltransgaz by Gazprom.

Alexey Miller and Vladimir Semashko emphasized the efficiency of the ongoing dialogue.

Background

On December 31, 2006 Gazprom and Beltransgaz signed the gas supply and transit contract for 2007–2011. In particular, starting from January 1, 2008 the contract set forth the price formula (corresponding to the price formula for Russian gas supplies to Europe) and the discount rates for the price between 2008 and 2010 (0.67, 0.8 and 0.9 respectively).

In August 2011 Vladimir Putin, Prime Minister of the Russian Federation tasked the Russian Energy Ministry and Gazprom to determine the amount of a discount rate for the gas price in Belarus since 2012.

Gazprom currently holds a 50 per cent stake in Beltransgaz.