Business news

MINSK, 23 November (BelTA) – Belarus may get rid of Gazprom’s monopoly in natural gas deliveries as from 2025 when the common gas market is created in the Eurasian Economic Union, BelTA learned from Belarusian First Deputy Energy Minister Viktor Karankevich during the session of the House of Representatives of the National Assembly of Belarus on 23 November.

Today the lower chamber of the Belarusian parliament ratified a protocol on amending the Belarusian-Russian intergovernmental agreement on terms of selling shares and consequent operation of the gas pipeline network company Beltransgaz of 25 November 2011. MPs wondered whether Belarus intends to seek a natural gas supplier other than Gazprom, considering the fact that other Russian companies may offer different gas acquisition terms.

Viktor Karankevich pointed out that the protocol specifies that natural gas can be delivered to Belarus only by signing contracts between Gazprom and Gazprom Transgaz Belarus. In line with the Eurasian Economic Union Treaty a program has been drafted to form a common natural gas market as from 1 January 2025. “The program provides for buying gas on different platforms or through various purchase options like exchange trade or long-term contracts with natural gas producers. This is why once the common gas market is in place in the Eurasian Economic Union, we will be able to get rid of Gazprom’s exclusive rights or monopoly and sign contracts with suppliers in Russia and Kazakhstan,” noted the official.