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10 Oct 2017

Belarus, Russia to discuss natural gas pricing formula for after 2020 by 15 November

MINSK, 10 October (BelTA) – By 15 November Belarus and Russia intend to discuss the natural gas pricing formula that will be in force as from 2020. Deputy Prime Minister of Belarus Vladimir Semashko made the statement during the Belarusian Energy and Ecology Forum on 10 October, BelTA has learned.

Vladimir Semashko said: “We intend to hold another meeting by 15 November, during which the Russian side will suggest a formula for pricing natural gas to us. We’ve already held three meetings with Deputy Prime Minister of Russia Arkady Dvorkovich. This one will be the fourth. We are getting closer. We should reach a mutually acceptable formula. There are minor routine issues we still have to address. Previous experience indicates that we found the solution for the three years — 2017-2019 — in the end.”

Vladimir Semashko reminded that Belarus pays $145 per 1,000m3 of natural gas this year, will pay $129 in 2018 and $127 in 2019 regardless of the situation on the market of oil and natural gas. “We are following the trajectory stipulated by the documents we signed together with Russia on 13 April,” concluded Vladimir Semashko.

The deputy prime minister also mentioned that electricity rates will be reduced for energy-intensive companies, which implement investment projects. “Next year we will continue the practice of reducing the rates, primarily for energy-intensive problem companies, which implement investment projects. Lists of such companies are being prepared. They are being reviewed by the Antimonopoly Regulation and Trade Ministry. I think we will approve these approaches by the end of the month,” he explained. Besides, there are plans to reduce electricity rates by 0.6 cents for all the consumers in the real sector of the economy in the future.


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