Business news

MINSK, 20 December (BelTA) – Belarus and Russia are negotiating the formula for pricing natural gas deliveries in 2020-2024. Deputy Prime Minister of Belarus Vladimir Semashko made the statement during the joint session of the two chambers of the Belarusian parliament on 20 December, BelTA has learned.

Vladimir Semashko said: “We are in negotiations with Russia on the formula for pricing natural gas deliveries in 2020-2024 in order to enable a common gas market by 1 January 2025.” In his words, Belarus believes that the price for Russian natural gas at the border should be roughly the same as the price in nearby Russian regions. “For now we pay 2.08 times more for Russian natural gas,” explained the official.

Vladimir Semashko stated that the problem of the volume and the cost of Russian natural gas deliveries to Belarus had been resolved through 2019. “This year we’ve paid $143.6 per 1,000m3. Plus certain support of Belarus’ budget. Next year regardless of the market situation the price will go down to $129 per 1,000m3. In 2019 the price will be $127,” he said.