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MOSCOW, September 12 (Itar-Tass) —— The talks on the terms of the Russian gas supplies, including the level of gas prices, between Russia’s gas monopoly Gazprom and Belarus are fruitful, Gazprom CEO Alexei Miller and Belarusian First Deputy Prime Minister Vladimir Semashko said on Monday.
“The two sides agreed to continue talks on the terms of gas supplies and transit, in particular on the gas prices,” the Gazprom press service said.
“Proceeding from the July agreements, the resolution of the issues is linked with the determination of the parameters necessary for Gazprom’s purchasing of Beltransgaz’ 50 percent of shares,” the press service said.
The sides also expressed confidence that “it would be realistic to complete the talks and sign a new contract for the gas supply and transit at the beginning of December 2011,” the press service said.
In 2006, Beltransgaz was estimated at five billion U.S. dollars. In May 2007, Gazprom and Belarus’ State Property Committee signed a treaty on sale/purchase of a 50-percent stake.
In 2007-2010, Gazprom bought annually 12.5 percent of Beltransgaz shares paying 2.5 billion U.S. dollars for the deal.
As of March 3, 2010, fifty percent of Beltransgaz shares belong to Gazprom. Belarus holds the same stake.
In August 2011, Prime Minister Vladimir Putin instructed the Russian Energy Ministry and Gazprom to determine the downward coefficient of gas price for Belarus from 2012.