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Opinions & Interviews

11 Oct 2016

Belarus’ Energy Ministry views oil, gas agreements with Russia as win-win solution

Belarus’ Energy Ministry views oil, gas agreements with Russia as win-win solution

MINSK, 11 October (BelTA) – The Belarusian Energy Ministry views the oil and gas agreements with Russia as a win-win solution, Belarusian Energy Minister Vladimir Potupchik told reporters at the Belarusian Energy and Ecology Forum on 11 October, BelTA has learned.

“The protocol provides a comprehensive solution to the issues that we had in the oil and gas industry. The protocol itself is actually a compromise that takes into account the interests of both countries and encourages us to have positive expectations for the development of the Eurasian Economic Union,” Vladimir Potupchik noted.

The protocol envisages the establishment of a common electricity market by 1 July 2019 and a common gas market by 1 January 2025.

“Thus, we have removed all issues in terms of gas supply and are back to normal work,” the minister added.

The two countries also settled the issues in the oil sector: Belarus annulled the decision to raise the tariffs for pumping oil through Belarus while Russia withdrew all restrictions on the supply of oil to Belarus, said Vladimir Potupchik.

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