Special gas price for Belarus

The Ministry of Energy of Belarus announced that it had reached an agreement on gas prices with Russia.

The parties agreed that Minsk will pay for raw materials as much as gas consumers in the Yamalo-Nenets Autonomous Okrug. In practice, this means that Belarus will have one of the lowest gas prices in Europe.

The emission price of gas became the subject of a dispute between Russia and Belarus. Minsk stated that Moscow was demanding too much for gas, while the Russian side argued that its western neighbor received fuel on preferential terms. As a result, there was a dispute over the underpayment of Belarus, and the debt for gas exceeded five hundred million US dollars.

In order to strengthen the repayment of obligations, the Kremlin imposed restrictions on the sale of oil to Belarus. For example, last quarter, instead of 5.5 million tons of oil that were expected in Belarus, supplies were estimated at 4 million tons.

However, information from the Belarusian ministry may indicate that the dispute will eventually be resolved.