Oct 16, 2020
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Belarus announced that it has fully paid off with Russia for gas

The Ministry of Energy of Belarus said that it had fully paid off with Gazprom for the gas supplied to the country from January to September this year. This was reported by the press secretary of the department Olga Kozlovich.

Calculations for the natural gas delivered in January-September have been made in full, - quotes her RIA Novosti.

It is noted that it was planned to repay the debt at the expense of a loan from the Eurasian Fund for Stabilization and Development (EFSD) for $ 500 million. The money entered the country's budget on October 16.

The amount of the repaid funds has not been reported. The Russian side previously expressed the hope that Minsk will allocate about $ 330 million for this.

As wrote, the Belarusian ambassador to Moscow Vladimir Semashko announced that Moscow and Minsk had reached an understanding on the issue of gas prices and the creation of a single market.

Russia supplies gas to Belarus at a price of $ 127 per cubic meter. It is determined by a formula that includes the price of fuel for consumers in the Yamalo-Nenets Autonomous Okrug plus the cost of transporting gas from production sites in the Yamalo-Nenets Autonomous Okrug to the border of Russia and Belarus, the cost of storage in the Russian Federation and the amount of Gazprom's gas sales costs.

For a number of years, this formula provided Belarus with the cost of Russian gas significantly lower than spot prices in Europe. Now the situation has changed, the formula has become unprofitable, but its effect has been agreed upon by the end of 2020.


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